(1) In this section, "securities" means any bonds, certificates of charge, debentures, debenture stock, notes, stock or other forms of security.
(2) The securities specified in the Table to this section shall be deemed to be securities issued under the authority of the Minister for Finance under section 466 of the Income Tax Act, 1967, and that section shall apply accordingly.
(3) Notwithstanding anything in the Tax Acts, in computing for the purposes of assessment under Schedule D the amount of the profits or gains of a company (being a company referred to in the Table to this section) for any accounting period, there shall be allowed as a deduction the amount of the interest on any securities which, by direction of the Minister for Finance given under section 466 of the Income Tax Act, 1967, as applied by subsection (2), is paid by the company without deduction of income tax for such period.
TABLE
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Securities issued by The Agricultural Cr |