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Amendment of section 603A (disposal of site to child) of Principal Act.
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53.— (1) Section 603A of the Principal Act is amended by substituting the following for subsection (1A):
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“(1A) This section applies to the disposal of land which at the date of the disposal—
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(a) has a market value that does not exceed €254,000, and
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(b) comprises—
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(i) the area of land on which a dwelling house referred to in subsection (2)(b) is to be constructed, and
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(ii) an area of land for occupation and enjoyment with that dwelling house as its garden or grounds which, exclusive of the area referred to in subparagraph (i), does not exceed 0.4047 hectare.”.
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(2) This section applies to disposals made on or after 1 February 2007.
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