Simon Harris (Wicklow, Fine Gael) | Oireachtas source

I move amendment No. 61:

In page 60, to delete lines 23 to 26 and substitute the following:
“(2) (a) Subject to paragraph (b), this section shall have effect from 1 January 2015.
(b) As respects a company incorporated before 1 January 2015, this section shall
have effect—
(i) after 31 December 2020, or
(ii) from the date, after 31 December 2014, of a change in ownership of the company where there is a major change in the nature or conduct of the business of the company within the relevant period, whichever is the earlier.
(c) In paragraph (b) “relevant period” means a period—
(i) beginning on the later of—
(I) 1 January 2015, or
(II) the date which occurs one year before the date of the change in ownership of the company referred to in that paragraph,
and
(ii) ending 5 years after the date of that change of ownership.
(d) For the purposes of the references in paragraphs (b) and (c) to a change in ownership of a company, Schedule 9 (other than paragraph 4 of that Schedule) to
the Principal Act shall apply as if references in that Schedule to section 401 or 679(4) of the Principal Act were references to the said paragraphs (b) and (c).
(e) For the purposes of paragraph (b), “a major change in the nature or conduct of the business of the company” means—
(i) a major change in the nature or conduct of a trade (within the meaning of section 401(1)(a) or (b) of the Principal Act) carried on by the company,
(ii) the commencement by the company of a new trade, or
(iii) a major change arising from the acquisition by the company of property or of an interest in, or right over, property.”.