(1) THAT section 730F(1) of the Taxes Consolidation Act 1997 (No. 39 of 1997), as respects the happening of a chargeable event in relation to a life policy (within the meaning of Chapter 5 of Part 26) on or after 1 January 2009, be amended—

(a) in paragraph (a) by substituting "(S+6) per cent" for "(S+3) per cent", and

(b) in paragraph (b) by substituting "(S+26) per cent" for "(S+23) per cent".

(2) THAT Chapter 6 of Part 26 of the Taxes Consolidation Act 1997, as respects the receipt by any person of a payment in respect of a foreign life policy (within the meaning of Chapter 6 of that Part) or the disposal in whole or in part of a foreign life policy (within that meaning) on or after 1 January 2009, be amended—

(a) in section 730J(a)—

(i) by substituting the following for clause (I) of subparagraph (i):

"(I) where the payment is a relevant payment, at the rate determined by the formula—

(S+3) per cent,

where S is the standard rate per cent for the year of assessment in which the payment is made, and",

(ii) in subparagraph (i)(II)(A) by substituting "(S+26) per cent" for "(S+23) per cent",

(iii) in subparagraph (i)(II)(B) by substituting "(S+6) per cent" for "(S+3) per cent", and

(iv) in subparagraph (ii)(I) by substituting "(H+23) per cent" for "(H+20) per cent", and

(b) in section 730K(1)—

(i) in paragraph (a) by substituting "(S+26) per cent" for "(S+23) per cent", and

(ii) in paragraph (b) by substituting "(S+6) per cent" for "(S+3) per cent".

(3) THAT Chapter 1A of Part 27 of the Taxes Consolidation Act 1997, as respects the happening of a chargeable event in relation to an investment undertaking (within the meaning of section 739B(1)) on or after 1 January 2009, be amended—

(a) in the formula in section 739D(5A) by substituting "(S+6)" for "(S+3)", and

(b) in section 739E(1)—

(i) by substituting the following for paragraph (a):

"(a) subject to paragraph (ba), where the amount of the gain is provided by section 739D(2)(a), at a rate determined by the formula—

(S+3) per cent,

where S is the standard rate per cent for the year of assessment in which the gain arises,",

(ii) in paragraph (b) by substituting "(S+6) per cent" for "(S+3) per cent", and

(iii) in paragraph (ba) by substituting "(S+26) per cent" for "(S+23) per cent".

(4) THAT Chapter 4 of Part 27 of the Taxes Consolidation Act 1997, as respects—

(a) the receipt by any person of a payment in respect of a material interest in an offshore fund (within the meaning of Chapter 4 of that Part), or

(b) the disposal in whole or in part of a material interest in an offshore fund (within that meaning), on or after 1 January 2009, be amended—

(i) in section 747D—

(I) in paragraph (a)(i)(I)—

(A) by substituting "(S+26) per cent" for "(S+23) per cent" in subclause (A), and

(B) by substituting the following for subclause (B):

"(B) in any other case, at the rate determined by the formula—

(S+3) per cent,

where S is the standard rate per cent for the year of assessment in which the relevant payment is made,",

(II) in paragraph (a)(i)(II)(A) by substituting "(S+26) per cent" for "(S+23) per cent",

(III) in paragraph (a)(i)(II)(B) by substituting "(S+6) per cent" for "(S+3) per cent", and

(IV) in paragraph (a)(ii)(I) by substituting "(H+23) per cent" for "(H+20) per cent",

and

(ii) in section 747E(1)—

(I) in paragraph (b)(i) by substituting "(S+26) per cent" for "(S+23) per cent", and

(II) in paragraph (b)(ii) by substituting "(S+6) per cent" for "(S+3) per cent".

(5) IT is hereby declared that it is expedient in the public interest that this Resolution shall have statutory effect under the provisions of the Provisional Collection of Taxes Act 1927 (No. 7 of 1927).