S.I. No. 148/1997:

FINANCE ACT, 1994 (SECTION 32) (EXEMPTION OF CERTAIN NON-COMMERCIAL STATE-SPONSORED BODIES FROM CERTAIN TAX PROVISIONS) ORDER, 1997

FINANCE ACT, 1994 (SECTION 32) (EXEMPTION OF CERTAIN NON-COMMERCIAL STATE-SPONSORED BODIES FROM CERTAIN TAX PROVISIONS) ORDER, 1997

WHEREAS pursuant to subsection (3) of section 32 of the Finance Act 1994 (No. 13 of 1994), a draft of the following Order was laid before Dáil Éireann and a resolution approving the draft has been passed by Dáil Éireann:

Now I, RUAIRI QUINN, Minister for Finance, in exercise of the powers conferred on me by subsection (2) of section 32 of the Finance Act, 1994 , hereby order as follows:

1. This Order may be cited as the Finance Act, 1994 (Section 32) (Exemption of Certain Non-Commercial State-Sponsored Bodies from Certain Tax Provisions) Order, 1997.

2. This Order shall be deemed to have come into force and to have effect as respects An Bord Bia - The Irish Food Board as on and from the 31st day of December, 1994 and respects The Irish Medicines Board as on and from the 1st day of January, 1996.

3. The Second Schedule to the Finance Act, 1994 (No. 13 of 1994), is hereby amended--

( a ) by the insertion after "5. An Bord Altranais." of "5A. An Bord Bia - The Irish Food Board.",

( b ) by the insertion after "56. The Irish Film Board." of "56A. The Irish Medicines Board.",

( c ) by the deletion of "26. Córas Beostoic agus Feola.", and

( d ) by the deletion of "71. National Drugs Advisory Board.".

GIVEN under my Official Seal, this 26 day of March 1997.

RUAIRÍ QUINN,

Minister for Finance.

EXPLANATORY NOTE.

Section 32 of the Finance Act, 1994 provided that income of Non-Commercial State-sponsored bodies was to be exempted from certain tax provisions. There bodies were listed in the Second Schedule to the Act of that year. Section 32 also provided that the Minister for Finance could by way of Order add a body or bodies to the Schedule or delete them from same. The purpose of this Order is twofold:

( a ) to add An Bord Bia -- The Irish Food Board and The Irish Medicines Board to the list of bodies specified in the Second Schedule, and

( b ) to delete from the Second Schedule Córas Beostoic agus Feola which has been replaced by An Bord Bia and, likewise, the National Drugs, Advisory Board which has been replaced by the Irish Medicines Board.