(1) Section 55 of the Principal Act is amended by the insertion of the following subsection after subsection (4):
"(5) Any work of art normally kept outside the State which is comprised in an inheritance which is charged to tax by virtue of section 12(1)(c) shall be exempt from tax to the extent that the Comtaken into account in computing tax, to the extent that the Commissioners are satisfied that it was brought into the State solely for public exhibition, cleaning or restoration.".
(2) This section shall have effect in relation to inheritances taken on or after 26 January 2001.