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Finance Act, 1999

Income of Investor Compensation Company Ltd.

76.—(1) The Principal Act is hereby amended—

(a) by the insertion after section 219A of the following section:

“Income of Investor Compensation Company Ltd.

219B.—(1) In this section, ‘the company’ means the company incorporated on the 10th day of September, 1998, as The Investor Compensation Company Limited.

(2) Notwithstanding any provision of the Corporation Tax Acts, profits arising in any accounting period ending on or after the 10th day of September, 1998, to the company shall be exempt from corporation tax.”,

and

(b) in section 256(1), in paragraph (a) of the definition of “relevant deposit”, by the substitution for subparagraphs (iv) and (v) of the following subparagraphs:

(iv) the Central Bank of Ireland,

(v) The Investor Compensation Company Limited, or

(vi) Icarom plc,”.

(2) Paragraph (b) of subsection (1) shall be deemed to have come into operation on the 10th day of September, 1998.