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S.I. No. 509/2003 - Finance Act 2001 (Commencement of Section 105A) Order 2003

I, Charlie McCreevy, Minister for Finance in exercise of the powers conferred on me by section 105A(3) (inserted by section 98 of the Finance Act 2003 (No. 3 of 2003)) of the Finance Act 2001 (No. 7 of 2001) hereby order as follows:

 1.        This Order may be cited as the Finance Act 2001 (Commencement of Section 105A Order 2003.

2.        The 1st day of January 2005 is appointed as the day on which section 105A of the Finance Act 2001 comes into operation.

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GIVEN under my Official Seal,

this 31st day of October, 2003.

 

Charlie McCreevy, 

Minister for Finance.

EXPLANATORY NOTE — Section 105A

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

This order appoints the 1st day of January 2005 as the date for coming into operation of the provisions of sections 105A of Chapter 1 of Part 2 of the Finance Act 2001 . Section 105A provides that action by the Revenue Commissioners to initiate recovery of underpayments of excise duty is limited to a period of not more than 4 years after the act or event giving rise to the liability, except in the event of fraud or negligence.