(1) The Principal Act is amended -

(a) in Chapter 1 of Part 23, by the insertion of the following section after section 658:

"658A. Farming: accelerated allowances for capital expenditure on slurry storage

(1) In this section -

'qualifying capital items' means the items specified in column (1) of the Table in Part 2 of Schedule 35A meeting the description specified in column (2) of that Table opposite the reference to those items in column (1);

'qualifying expenditure' means capital expenditure incurred during the relevant period on the provision or construction, as the case may be, of qualifying capital items;

'relevant period' means the period commencing on 1 January 2023 and ending on 30 June 2023;

'relevant regulation' means Article 7 of the European Union (Good Agricultural Practice for Protection of Waters) Regulations 2022 (S.I. No. 113 of 2022);

'relevant tax', in relation to a person, means -

(a) where the person is a company, any corporation tax, and

(b) where the person is not a company, any contributions paid under the Social Welfare Consolidation Act 2005, income tax or universal social charge;

'Rescuing and Restructuring Guidelines' means the Communication from the Commission on Guidelines on State aid for rescuing and restructuring non-financial undertakings in difficulty [OJ No. C249, 31.7.2014, p. 1];