Finance Act, 1997
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Amendment of section 19 (value of agricultural property) of Principal Act. |
134.—(1) Section 19 of the Principal Act is hereby amended— | |
(a) by the substitution of the following definition for the definition of “agricultural value” in subsection (1) (inserted by the Finance Act, 1996 ): | ||
“‘agricultural value’ means the market value of agricultural property reduced by 90 per cent. of that value;”, | ||
(b) in paragraph (II) of the proviso (inserted by the Finance Act, 1996 ) to paragraph (a) (inserted by the Finance Act, 1994 ) of subsection (5), by the insertion of “or section 134 of the Finance Act, 1997,” after “ Finance Act, 1996 ,”. | ||
(2) This section shall have effect in relation to gifts or inheritances taken on or after the 23rd day of January, 1997. |