Finance Act, 1996
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Amendment of section 36 (investment income reserved for policy holders) of Corporation Tax Act, 1976. |
48.—(1) Section 36 of the Corporation Tax Act, 1976 , is hereby amended in subsection (2) by the insertion of the following proviso: | |
“Provided that in computing that part of those profits for the purposes of paragraph (b), subsection (1A) of section 13 shall apply as if the rate per cent. of capital gains tax specified in subsection (3) of section 3 of the Capital Gains Tax Act, 1975 , were the rate per cent. of corporation tax specified in paragraph (b) of subsection (1) of section 1.”. | ||
(2) This section shall have effect as on and from the 1st day of April, 1995. |