1. Irish Financial Services Law
  2. Legislation (IE)
  3. Acts
  4. 1997
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  1. Taxes Consolidation Act, 1997 (No. 39)
  2. Income Tax and Corporation Tax: The Main Provisions (ss. 32-531)
  3. Part 8 Annual Payments, Charges and Interest (ss. 237-267M)
  4. Chapter 3 Principal provisions relating to the payment of interest (ss. 244-255)
  5. 251. Restriction of relief to individuals on loans applied in acquiring shares in companies where a claim for "BES relief" or "film relief" is made in respect of amount subscribed for shares.
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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 30 November 1997 - onwards
    Version 1 of 1    

251. Restriction of relief to individuals on loans applied in acquiring shares in companies where a claim for "BES relief" or "film relief" is made in respect of amount subscribed for shares.

Notwithstanding sections 248 and 250, relief shall not be given under either section in respect of any payment of interest on any loan applied in acquiring shares (being shares forming part of the ordinary share capital of a company) issued -

(a) on or after the 20th day of April, 1990, if a claim for relief under Part 16 is made in respect of the amount subscribed for those shares, or

(b) on or after the 6th day of May, 1993, if a claim for relief under section 481 is made in respect of the amount subscribed for those shares.

Comparing proposed amendment...
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