As of 6 April 1997 this text has repealed
Section 115 of the Income Tax Act, 1967, is hereby amended in subsection (1A) (inserted by the Finance Act, 1993) -
(a) by the insertion in paragraph (a) of the following after subparagraph (iii):
"(iv) a benefit paid in pursuance of any statutory scheme (within the meaning of Chapter II of Part I of the Finance Act, 1972), other than a payment representing normal retirement benefits, which is made in consideration or in consequence of, or otherwise in connection with, the termination of the holding of an office or employment in circumstances -
(I) of redundancy or abolition of office, or
(II) for the purposes of facilitating improvements in the organisation of the employing company, organisation, Department or other body by which greater efficiency or economy can be effected,
and for the purposes of this subparagraph, ‘normal retirement benefits’ means recognised superannuation benefits customarily payable to an individual on retirement at
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