S.I. No. 502/1998:

FINANCE ACT, 1998 (SECTION 47) (COMMENCEMENT) ORDER, 1998

FINANCE ACT, 1998 (SECTION 47) (COMMENCEMENT) ORDER, 1998

I, Charlie McCreevy, Minister for Finance, in exercise of the powers conferred on me by section 47 (2) of the Finance Act, 1998 (No. 3 of 1998), hereby order as follows:

1. This Order may be cited as the Finance Act, 1998 (Section 47) (Commencement) Order, 1998.

2. The 31st day of December, 1998, is hereby appointed as the day on which section 47 of the Finance Act, 1998 (No. 3 of 1998), shall come into operation with respect to paragraphs 1, 5, 9 and 10 of Schedule 2 to that Act.

3. The 1st day of January, 1999, is hereby appointed as the day on which section 47 of the Finance Act, 1998 (No. 3 of 1998), shall come into operation with respect to paragraphs 2, 3, 4, 6, 7 and 8 of Schedule 2 to that Act.

GIVEN under my Official Seal, this 21st day of December, 1998

CHARLIE McCREEVY

Minister for Finance

EXPLANATORY NOTE

This statutory instrument appoints 31 December, 1998 as the day on which paragraphs 1, 5, 9 and 10 of Schedule 2 of the Finance Act, 1998 comes into operation. For the remaining paragraphs of Schedule 2 of the Act (2, 3, 4, 6, 7 and 8) the Order appoints 1 January, 1999 as the day on which those provisions come into operation.

Section 47 and Schedule 2 of the Act, which was subject to a Commencement Order, provide technical measures to cater for the change in currency of the State to the euro on 1 January, 1999.