Finance Act, 1997

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Amendment of section 35 (relief for investment in films) of Finance Act, 1987 .

30.—(1) Section 35 (inserted by section 31 (1) of the Finance Act, 1996 ) of the Finance Act, 1987 , is hereby amended—

(a) in subsection (1)—

(i) in the definition of “film” by the substitution of “means a film of a kind which is included within the categories of films eligible for certification as set out in guidelines referred to in subsection (2) which is produced” for “means a film which is produced”, and

(ii) in the definition of “qualifying company”, to insert after paragraph (a) the following new paragraph:

“(aa) does not contain in its name registered under either or both the Companies Acts, 1963 to 1990, or the Registration of Business Names Act, 1963 , the words, ‘Ireland’, ‘Irish’, ‘Éireann’, ‘Éire’ or ‘National’, and”,

(b) in subsection (2)—

(i) in paragraph (a)(i) by the insertion of the following proviso:

“Provided that nothing in this section shall be construed as obliging the Minister to give a certificate under this paragraph, and in any case where in relation to a film, the principal photography has commenced, the first animation drawings have commenced or the first model movement has commenced, as the case may be, before application is made by a qualifying company, the Minister shall not issue a certificate under this paragraph.”, and

(ii) in paragraph (b) by the substitution for paragraph (II) of the proviso to subparagraph (ii) of the following paragraph:

“(II) (A) (a) in relation to a film (other than an animation film) in respect of which the principal photography commences at any time during the months of October, November, December and January, and the production of the film continues to completion without unreasonable delay from that time, or

(b) in relation to a film in respect of which post production work is to be carried out wholly or mainly in the State,

the references in paragraph (I) of this proviso to—

(i) 60 per cent., shall be construed as a reference to 66 per cent.,

(ii) 50 per cent., shall be construed as a reference to 55 per cent., and

(iii) £7,500,000 shall be construed as a reference to £8,250,000,

and

(B) in relation to a film in respect of which not less than one-half of the amount of the total cost of production met by relevant investments has been met by relevant investments paid by allowable investor companies, the references in this proviso, apart from this subparagraph, to—

(a) £7,500,000 shall be treated as a reference to £15,000,000, and

(b) £8,250,000 shall be treated as a reference to £16,500,000,”,

and

(c) in subsection (4)—

(i) by the substitution of “£8,000,000” for “£6,000,000”,

(ii) in paragraph (a) of the proviso by the substitution of “£3,000,000” for “£2,000,000”, and

(iii) in paragraph (b) of the proviso by the substitution of “£3,000,000” for “£2,000,000”.

(2) Subsection (1) shall apply and have effect—

(a) as respects paragraph (a) and subparagraph (i) of paragraph (b), in relation to a film in respect of which the Minister did not receive, before the 29th day of April, 1997, the application to enable the Minister to consider whether a certificate should be given under section 35(2) of the Finance Act, 1987 ,

(b) as respects subparagraph (ii) of paragraph (b), in relation to a film in respect of which the Minster has received the application on or after the 26th day of March, 1997, to enable the Minister to consider whether a certificate should be given under section 35(2) of the Finance Act, 1987 ,

(c) as respects subparagraph (i) of paragraph (c), in relation to any period of twelve months ending on an anniversary of the 22nd day of January, 1997,

(d) as respects subparagraph (ii) of paragraph (c), in relation to a relevant investment made on or after the 26th day of March, 1997, and

(e) as respects subparagraph (iii) of paragraph (c), in relation to any twelve month period commencing on or after the 23rd day of January, 1997.