Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

The Minister of State will notice there is a theme to my questions. The note in the explanatory memorandum says that this section amends capital acquisitions tax where there is an exemption for certain policies of assurance on the life of a person where neither the disponer, the donee nor the successor is domiciled or ordinarily resident in the State. The amendment extends the exemption from tax to policies known as capital redemption policies issued by life assurance companies where the disponer, donee or successor is both non-domiciled and non-resident in the State. We have a new creature now, in the form of the capital redemption policy, receiving a tax exemption. For some reason, this is provided where a person is non-resident. Will the Minister of State explain this?