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Amendment of section 50 of Principal Act
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18. Section 50 of the Principal Act is amended—
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(a) by the substitution, in subsection (2), of “€1,000,000” for “€500,000”,
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(b) in subsection (13)—
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(i) by the deletion of paragraph (a),
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(ii) by the substitution of the following paragraph for paragraph (c):
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“(c) to a charitable organisation in respect of a financial year in which 2 or more of the following conditions are met:
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(i) its balance sheet total does not exceed €10,000, or such greater amount not exceeding €50,000 as may be prescribed;
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(ii) its gross income does not exceed €10,000, or such greater amount not exceeding €50,000 as may be prescribed;
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(iii) it has no employees,”,
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and
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(iii) by the substitution, in paragraph (d), of “Minister for Education” for “Minister”,
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and
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(c) in subsection (14)(b)—
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(i) by the insertion, in subparagraph (i), of “or the United Kingdom” after “an EEA state”, and
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(ii) by the substitution of “the state in which the charitable organisation is established” for “that EEA state”.
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