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Deductions in relation to the establishment or alteration of superannuation schemes.
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63.—Where a superannuation scheme is established in connection with a trade or undertaking or a superannuation scheme so established is altered and the person by whom the trade or undertaking is carried on makes a payment in respect of expenses (including a payment in respect of professional fees, but not including a payment by way of contribution towards the cost of providing the benefits payable under the scheme) in connection with such establishment or alteration, then, if the scheme or, as the case may be, the altered scheme is—
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(a) operated through a fund approved, whether in whole or in part, by the Revenue Commissioners for the purposes of section 222,
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(b) approved, whether in whole or in part, by the Revenue Commissioners under section 229, or
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(c) an excepted scheme within the meaning of section 228 (2),
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the amount of the payment shall be allowed to be deducted in the computation, for the purposes of assessment to income tax, of the profits or gains of the trade or undertaking as an expense incurred when the payment is made:
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Provided that where, in a case falling within paragraph (a) or (b), a part only of the relevant fund or scheme is approved as therein mentioned, the deduction shall be restricted to so much of the payment as is referable to that part.
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