Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

I never actually answered the question on the section. This is a technical amendment to ensure that the meaning of the term “transfer” as used in section 633D is distinguished from the current definition of “transfer” in section 630. The current definition in section 630 of the Taxes Consolidation Act 1997 only refers to transfers of the whole or part of a company’s trade, whereas the mergers directive applies to transfers of all of the assets and liabilities of a company.

Accordingly, in line with the requirements of the mergers directive, the amendment confirms that the term “transfer” in section 633D refers to the transfer of all the assets and liabilities of a company and is not limited to the transfer of a trade. In summary, for the Deputy, it is a broader definition of transfer than is currently in the legislation.