Section 41.

Amendment of Part 8 (Annual Payments, Charges and Interest) of the Taxes Consolidation Act 1997

"Chapter 6 Implementation of Council Directive 2003/49/EC of 3 June 2003 on a common system of taxation applicable to interest and royalty payments made between associated companies of different Member States.

Interpretation (Chapter 6).

267G.

(1) In this Chapter -

'arrangements' means arrangements having the force of law by virtue of section 826(1) (a);

'bilateral agreement' means any arrangements, protocol or other agreement between the Government and the government of another state;

'permanent establishment' means a fixed place of business through which the business of a company of a Member State is wholly or partly carried on which place of business is situated in a territory other than that Member State;

'company' means a company of a Member State;

'company of a Member State' has the meaning assigned to it by Article 3(a) of the Directive;

'the Directive' means Council Directive 2003/49/EC of 3 June 2003 [OJ No. L157, 26.6.2003, p.49];

'interest' means income from debt-claims of every kind, whether or not secured by mortgage and whether or not carrying a right to participate in the debtor's profits, and in particular, income from securities and income from bonds or debentures, including premiums and prizes attaching to such securities, bonds or debentures but does not include penalty charges for late payment;

'Member State' means a Member State of the European Communities;