47. Amendment of section 536 of Principal Act (capital sums: receipt of compensation and insurance moneys not treated as a disposal in certain cases)
This format of the bill is taken from the text of stage 1 published on 19 October 2023 by Dáil Éireann
(1) Section 536 of the Principal Act is amended by the insertion of the following subsection after subsection (4):
"(5) This section shall not apply to a disposal or deemed disposal of, or of an interest in, property situate in the State to an authority possessing compulsory purchase powers, where the disposal or deemed disposal, as the case may be, would not have been made but for -
(a) the exercise of those powers, or
(b) the giving by the authority of formal notice of its intention to exercise those powers.".
(2) Subsection (1) applies to disposals and deemed disposals referred to in that subsection made on or after the date of the passing of this Act.