S.I. No. 814/2004 - Finance Act 2004 (Commencement of Section 28) Order 2004

I, Brian Cowen, Minister for Finance, in exercise of the powers conferred on me by section 28 of the Finance Act 2004 (No. 8 of 2004), hereby order as follows:

1. This Order may be cited as the Finance Act 2004 (Commencement of Section 28) Order 2004.

2. (1) The 1st day of January 2005 is, subject to paragraphs (2) and (3) of this Article, appointed as the day on which section 28 of the Finance Act 2004 (No. 8 of 2004) comes into operation.

(2) The amendments to section 481 of the Taxes Consolidation Act 1997 (No. 39 of 1997) by section 28 of the Finance Act 2004 apply as respects an application made on or after 1 January 2005 by a qualifying company (within the meaning of the said section 481) for a certificate under the said section 481 in relation to a film to which that section relates.

(3) In so far as it relates to the insertion of subsection (2E) into section 481 of the Taxes Consolidation Act 1997 , the date of the making of this Order is appointed as the day on which section 28 (1)(c) of the Finance Act 2004 comes into operation.

Explanatory Note

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

This Order commences section 28 of the 2004 Finance Act and thereby extends the scheme of film relief provided for under section 481 of the Taxes Consolidation Act 1997 from 31 December 2004 to 31 December 2008. This Order also brings into effect from 1 january 2005 the increase to £15 million in the limit on section 481 funding that can be raised for any one film, the measures to address certain abuses of the relief and the amended procedures in regard to the administration of the scheme that were also provided for in section 28 of the 2004 Finance Act.