S.I. No. 211 of 2002

Finance Act, 2002 (Commencement of Section 34) Order, 2002

Made by the Minister for Finance

S.I. No. 211 of 2002

Finance Act, 2002

(Commencement of Section 34) Order, 2002

I, Charlie McCreevy, Minister for Finance, in exercise of the powers conferred on me by section 34 of the Finance Act, 2002 ( No. 5 of 2002 ), hereby order as follows:

1.       This Order may be cited as the Finance Act, 2002

(Commencement of Section 34) Order, 2002.

2.       The 15^th day of May, 2002, is appointed as the day on which section 34 of the Finance Act, 2002 ( No. 5 of 2002 ), shall come into operation.

Explanatory Note

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

This Order appoints 15^th May, 2002 as the date for the coming into operation of section 34 of the Finance Act, 2002 . That section provides for a scheme of capital allowances in respect of capital expenditure incurred on the construction or refurbishment of buildings used as private sports injury clinics. Capital allowances will be available in respect of qualifying expenditure at the rate of 15 per cent per year for the first 6 years with the balance of 10 per cent being written off in year 7.