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Securities of Agricultural Credit Corporation, Ltd.
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468.—(1) Debentures, debenture stock, certificates of charge and other securities issued by The Agricultural Credit Corporation, Limited, shall be deemed to be securities issued under the authority of the Minister for Finance within the meaning of section 466 and that section shall apply accordingly.
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(2) Notwithstanding anything contained in section 61 (l), 433, 434 or 456, in computing for the purposes of assessment under Schedule D the amount of the profits or gains of The Agricultural Credit Corporation, Limited, for any period for which accounts are made up there shall be allowed as a deduction the amount of the interest on debentures, debenture stock, certificates of charge and other securities which, by direction of the Minister for Finance given under section 466, as applied by this section, is paid without deduction of tax for such period.
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(3) Debentures, debenture stock and certificates of charge issued by The Agricultural Credit Corporation, Limited, shall not be liable to tax so long as it is shown in manner to be prescribed by the Minister for Finance that they are in the beneficial ownership of persons who are neither domiciled nor ordinarily resident in the State.
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