(1) Section 34 of the Finance Act, 1973, is hereby amended by the insertion of the following subsection after subsection (2):
"(2A) Notwithstanding the provisions of subsection (2), an individual shall not be entitled to have any amount of income from a qualifying patent arising to him disregarded for any purpose of the Income Tax Acts to the extent that it -
(a) is in excess of two-thirds of the amount arising to him in the period beginning on the 24th day of April, 1992, and ending on the 5th day of April, 1993,
(b) is in excess of one-third of the amount arising to him in the year of assessment 1993-94, or
(c) arises to him in the year of assessment 1994-95 or any subsequent year of assessment:
Provided that this subsection shall not apply or have effect in relation to income from a qualifying patent received by an individual who carried out, either solely or jointly with another person, the research, planning, processing, experimenting, testing, devising, designing, developing