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Amendment of section 908A (revenue offence: power to obtain information from financial institutions) of Principal Act.
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88.—The Principal Act is amended in section 908A by substituting the following for subsection (2)—
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“(2) (a) In this subsection ‘documentation’ includes information kept on microfilm, magnetic tape or in any non-legible form (by use of electronics or otherwise) which is capable of being reproduced in a permanent legible form.
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(b) If, on application made by an authorised officer, with the consent in writing of a Revenue Commissioner, a judge is satisfied, on information given on oath by the authorised officer, that there are reasonable grounds for suspecting—
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(i) that an offence, which would result (or but for its detection would have resulted) in serious prejudice to the proper assessment or collection of tax, is being, has been, or is about to be committed (having regard to the amount of a liability in relation to any person which might be, or might have been, evaded but for the detection of the relevant facts), and
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(ii) that there is material in the possession of a financial institution specified in the application which is likely to be of substantial value (whether by itself or together with other material) to the investigation of the relevant facts,
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the judge may make an order authorising the authorised officer to inspect and take copies of any entries in the books, records or other documents of the financial institution, and any documentation associated with or relating to an entry in such books, records or other documents, for the purposes of investigation of the relevant facts.”.
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