Chapter 1 of Part 15 of the Principal Act is amended by inserting the following section after section 480:
(1) In this section 'basis period', in relation to a year of assessment, means the period on the profits or gains of which income tax for the year of assessment is to be finally computed under the Income Tax Acts.
(2) Notwithstanding any other provision of the Income Tax Acts other than section 1006A, this section applies where in the year of assessment 2002 or any subsequent year of assessment an individual (in this section referred to as the 'relevant individual') who is resident in the State for that year of assessment and engaged in an occupation (in this section referred to as the 'specified occupation'), or carries on a profession (in this section referred to as the 'specified profession'), specified in Schedule 23A proves to the satisfaction of the Revenue Commissioners that he or she has in that year of assessment ceased permanently to be engaged in the specified oc
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