Part 5 of the Principal Act is amended -

(a) in section 121(2)(b) -

(i) in subparagraph (ii), by substituting "running the car," for "running the car, and",

(ii) in subparagraph (iii)(II), by substituting "31 December 2018," for "31 December 2018.", and

(iii) by inserting the following subparagraphs after subparagraph (iii):

"(iv) notwithstanding subparagraph (ii), where a car made available during the period 1 January 2019 to 31 December 2021 is an electric vehicle and the original market value of the car does not exceed €50,000, no amount shall be treated as emoluments of the employment,

(v) notwithstanding subparagraph (ii), where -

(I) a car made available to an employee during the period 1 January 2019 to 31 December 2020 is an electric vehicle,

(II) the original market value of the car exceeds €50,000, and

(III) the car was first made available to the employee during the period 10 October 2017 to 9 October 2018,

no amount shall be treated as emoluments of the employment, and