(1) This section shall apply as respects -
(a) any approved scheme shown to the satisfaction of the Revenue Commissioners to be established under irrevocable trusts,
(b) any approved scheme which is an overseas pension scheme, or
(c) any other approved scheme as respects which the Revenue Commissioners, having regard to any special circumstance, direct that this section shall apply,
and any scheme which is for the time being within paragraph (a), (b) or (c) is in this Chapter referred to as an "exempt approved scheme".
(2) This section shall apply only as respects income arising or contributions paid at a time when a scheme is an exempt approved scheme.
(3) Exemption from income tax shall, on a claim being made in that behalf, be allowed in respect of income derived from investments or deposits of a scheme if, or to such extent as the Revenue Commissioners are satisfied that, it is income from investments or deposits held for the purposes of the scheme.
(a) In this subsection, "fin
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