(1) In this section, "relevant company" means a company which -
(a) is an investment company within the meaning of Part XIII of the Companies Act, 1990,
(b) is a qualified company within the meaning of section 446, and
(c) makes only one payment in respect of any share or security issued by it, being a payment made in the redemption, repayment or purchase of the share.
(2) Where a company proves that it is a relevant company and claims to have every payment made by it in the redemption, repayment or purchase of shares issued by it treated as not being or including a distribution for the purposes of section 159, then -
(a) every such payment shall be so treated, and
(b) notwithstanding any provision of the Tax Acts, the person to whom each such payment is made shall not be entitled to a tax credit in respect of it.
(3) A claim under this section shall be made in writing to the inspector in a form prescribed by the Revenue Commissioners and shall be submitted together with the compa