Finance Act 2018

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Amendment of section 285A of, and Schedule 4A to, Principal Act (acceleration of wear and tear allowances for certain energy-efficient equipment)

17. (1) Section 285A of the Principal Act is amended—

(a) by substituting the following for subsection (1):

“(1) In this section—

‘energy-efficiency criteria’ has the meaning given to it by subsection (4);

‘energy-efficient equipment’ means equipment complying with the energy-efficiency criteria and named on the specified list;

‘relevant period’ means the period commencing on the date of the making of the Taxes Consolidation Act 1997 (Accelerated Capital Allowances for Energy Efficient Equipment) Order 2008 ( S.I. No. 399 of 2008 ) and ending on 31 December 2020;

‘SEAI’ means Sustainable Energy Ireland - The Sustainable Energy Authority of Ireland;

‘specified list’ has the meaning given to it by subsection (2A);

‘Table’ means the Table in Schedule 4A.”,

(b) in subsection (2), by inserting “which at the time it is so provided is unused and not second-hand” after “that person”,

(c) by inserting the following subsection after subsection (2):

“(2A) (a) Subject to subsection (3), SEAI shall establish and maintain a list of energy-efficient equipment (in this section referred to as the ‘specified list’).

(b) SEAI shall publish the specified list on the website of SEAI and by such other means as SEAI considers appropriate.

(c) SEAI shall amend the specified list, as necessary, to keep it current by adding thereto or deleting therefrom, as the case may be, and when any such amendment is made to the specified list, SEAI shall publish the amended specified list in accordance with paragraph (b).”,

(d) by substituting the following for subsection (4):

“(4) For the purposes of this section, the Minister for Communications, Climate Action and Environment, after consultation with and with the approval of the Minister for Finance, shall make an order stating the criteria (in this section referred to as the ‘energy-efficiency criteria’) relating to—

(a) the minimum levels of efficiency, performance, speed, storage or efficacy to be met, and

(b) the specific certifications and standards to be complied with or tested, or both, as the case may be,

for each class of technology specified in column (1) of the Table.”,

(e) in subsection (7), by substituting the following for paragraph (b):

“(b) Where—

(i) expenditure on equipment is incurred on or after 31 January 2008 but before the date of the making of the Taxes Consolidation Act 1997 (Accelerated Capital Allowances for Energy Efficient Equipment) Order 2008 ( S.I. No. 399 of 2008 ), and

(ii) that equipment would have qualified as energy-efficient equipment under this section had the order referred to in subparagraph (i) been made at the time the expenditure was incurred,

then this section shall apply as if the order referred to in subparagraph (i) had been made at that time.”,

and

(f) in subsection (9), by substituting “Minister for Communications, Climate Action and Environment” for “Minister for Communications, Energy and Natural Resources”.

(2) Schedule 4A to the Principal Act is amended in column (2) of the Table in that Schedule by deleting “and that meet specified efficiency criteria” in each place.