Section 599 of the Principal Act is amended -

(a) in subsection (1) -

(i) in paragraph (b) -

(I) in subparagraph (i), by the insertion of "on or before 31 December 2024" after "his or her child",

(II) in subparagraph (iia), by the insertion of "and on or before 31 December 2024" after "2014",

(III) in subparagraph (iii), by the insertion of "and on or before 31 December 2024" after "2014", and

(IV) by the insertion of the following subparagraphs after subparagraph (iii):

"(iv) where an individual who has attained the age of 55 years but has not attained the age of 70 years disposes of the whole or part of his or her qualifying assets to his or her child on or after 1 January 2025, and the market value of the qualifying assets is €10,000,000 or less, relief shall be given in respect of the capital gains tax chargeable on any gain accruing on the disposal;

(v) where an individual who has attained the age of 55 years but has not attained the age of 70 years disposes of the whole or part of his or her qualifying assets to his or her child on or after 1 January 2025, and the market value of the qualifying assets is greater than €10,000,000, relief shall be given in respect of the capital gains tax chargeable on any gain accruing on the disposal as if the consideration for the disposal had been €10,000,000;