S.I. No. 315/1990 - Finance Act, 1987 (Designation of Urban Renewal Areas) (No. 2) Order, 1990.

S.I. No. 315 of 1990.

FINANCE ACT, 1987 (DESIGNATION OF URBAN RENEWAL AREAS) (No. 2) ORDER, 1990.

I, ALBERT REYNOLDS, Minister for Finance in exercise of the powers conferred on me by Section 27 of the Finance Act, 1987 (No. 10 of 1987), as amended by Section 31 of the Finance Act, 1990 (No. 10 of 1990), and after consultation with the Minister for the Environment, hereby, by this Order, direct as follows:

1. This Order may be cited as the Finance Act, 1987 (Designation of Urban Renewal Areas) (No. 2) Order, 1990.

2. The definition of "designated area" contained in section 41 of the Finance Act, 1986 (No. 13 of 1986), shall include the area described in Part II of the Schedule to the Urban Renewal Act, 1986 (Designated Areas) (No. 2) Order, 1990.

3. The definition of "qualifying period" contained in sections 42 , 44 and 45 of the Finance Act, 1986 , shall, in relation to the area described in the said Part II, be construed as a reference to the period commencing on the 1st day of May, 1990, and ending on the 31st day of May, 1993.

GIVEN under my Official Seal, this 18th day of December, 1990.

ALBERT REYNOLDS,

Minister for Finance.

EXPLANATORY NOTE.

This Order declares certain urban areas to be designated areas for the purposes of the incentive tax reliefs for urban renewal provided for in the Finance Act, 1986 , comprising of capital allowances for commercial buildings, owner-occupier allowance and double rent allowance. The Order also prescribes, in relation to such areas, the period of the availability of these incentives.