(1) The Principal Act is amended -

(a) in section 598 -

(i) by inserting the following after subsection (3):

 "(3A) Where compensation has been received by a person under the scheme for compensation in respect of the decommissioning of fishing vessels implemented by the Minister for Agriculture, Fisheries and Food in accordance with Council Regulation (EC) No. 1198/2006 of 27 July 2006, relief under subsection (2) shall apply as if the period referred to in paragraph (i) of the definition of 'qualifying assets' in subsection (1) (a) were 6 years and the age referred to in subsection (2) were 45 years.", and

(ii) by inserting the following after subsection (7):

 "(8) This section shall not apply to a disposal of qualifying assets unless it is shown that the disposal is made for bona fide commercial reasons and does not form part of any arrangement or scheme of which the main purpose or one of the main purposes is the avoidance of liability to tax.",

and

(b) by inserting the following after section 598: