(1) Chapter 2 of Part 23 of the Principal Act is amended -

(a) in section 666(4) -

(i) in paragraph (a) by substituting "31 December 2015" for "31 December 2012", and

(ii) in paragraph (b) by substituting "year 2015" for "year 2012",

(b) in section 667B by substituting the following for subsection (1):

"(1) In this section 'qualifying farmer' means an individual -

(a)

(i) who in the year of assessment 2007 or any subsequent year of assessment first qualifies for grant aid under the scheme of Installation Aid for Young Farmers operated by the Department of Agriculture, Food and the Marine under Council Regulation (EEC) No. 797/85 of 12 March 1985 [OJ No. L93, 30.3.1985, p.6] or that Regulation as may be revised from time to time, or

(ii) who -

(I) first becomes chargeable to income tax under Case I of Schedule D in respect of profits or gains from the trade of farming for the year of assessment 2007 or any subsequent year of assessment,