Finance Act, 2001

Amendment of section 530 (interpretation (Chapter 2)) of Principal Act.

28.—Section 530 of the Principal Act is amended in subsection (1):

(a) by the insertion before the definition of “construction operations” of the following definition:

“‘certified subcontractor’, in relation to a principal, means a subcontractor—

(a) in respect of whom the principal holds, at the time of making a payment under a relevant contract to the subcontractor, a relevant payments card for the year in which the payment is made, and

(b) in respect of whom the principal has not received a notice under paragraph (a) of subsection (13) of section 531;”,

and

(b) by the insertion after the definition of “subcontractor” of the following definition:

“‘uncertified subcontractor’ means a subcontractor who is not a certified subcontractor.”.