Chapter 4 of Part 12 of the Principal Act is amended by inserting the following after section 409B:

"409C.

(1) In this section -

'approved building', 'the Minister' and 'qualifying expenditure' have, respectively, the meaning assigned to each of them by section 482(1) (a);

'the claimant' has the meaning assigned to it by section 482(2) (a);

'eligible charity' has the meaning assigned to it by paragraph 1 of Part 3 of Schedule 26A;

'ownership interest', in relation to a building, means an estate or interest in a building which would entitle the person who holds it, to make a claim under section 482 as owner of the building;

'relevant determinations', in relation to a building, means the determinations made by the Minister and the Revenue Commissioners, respectively, in accordance with section 482(5) (a).

(2) For purposes of this section, a scheme shall be a passive investment scheme, in relation to a building, in any case where -

(a) an ownership interest, in relation to the building, is transferred by one person (in this section referred to as the 'transferor') to another person (in this section referred to as the 'transferee'),

(b) at the time of the transfer, or at any time in the period of 5 years commencing at that time, the building is an approved building, and

(c)