S.I. No. 183/2000 - Finance Act, 2000 (Section 63) (Commencement) Order, 2000.

I, CHARLIE McCREEVY, Minister for Finance, in exercise of the powers conferred on me by section 63 of the Finance Act, 2000 (No. 3 of 2000), hereby order as follows:

1. This Order may be cited as the Finance Act, 2000 (Section 63) (Commencement) Order, 2000.

2. The 21st day of June, 2000, is hereby appointed as the day on which section 63 of the Finance Act, 2000 (No. 3 of 2000), shall come into operation.

EXPLANATORY NOTE.

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

This Order appoints 21st June, 2000 as the date for the coming into operation of section 63 of the Finance Act, 2000 . This section amends section 843A of the Taxes Consolidation Act, 1997 which provides for capital allowances for expenditure on the construction, refurbishment or extension of childcare premises which meet the required standards as provided for in the Child Care Act, 1991 and the Child Care (Pre-School Services) Regulations, 1996.

For expenditure incurred on or after 1st December, 1999 accelerated capital allowances are allowable. These accelerated capital allowances consist of an initial allowance of 100% which is available to both owner-operators and investors and free-depreciation up to 100% which is only available to owner-operators of such premises.