(1) In this section -
"approved body" means -
(a) the National College of Ireland,
(b) an institution comprising the Dublin Institute of Technology established by or under section 3 of the Dublin Institute of Technology Act, 1992, or
(c) an educational institution established by or under section 3 of the Regional Technical Colleges Act, 1992, as a regional technical college;
"approved subject" means -
(a) industrial relations,
(b) marketing, or
(c) any other subject which is approved for the purposes of this section by the Minister for Finance.
(2) Where a person carrying on a trade or profession -
(a) pays any sum to -
(i) an Irish university, or
(ii) an approved body,
for the purpose of enabling the university or the approved body to undertake research in, or engage in the teaching of, an approved subject, and
(b) the sum so paid is not income to which section 792 applies,
the sum so paid shall, if not otherwise so deductible, be deducted as an expense in computing the profits o