S.I. No. 286/1994:

FINANCE ACT, 1987 (DESIGNATION OF URBAN RENEWAL AREAS) (NO. 3) ORDER, 1994.

FINANCE ACT, 1987 (DESIGNATION OF URBAN RENEWAL AREAS) (NO. 3) ORDER, 1994.

I, BERTIE AHERN, Minister for Finance, in exercise of the powers conferred on me by section 27 of the Finance Act, 1987 (No. 10 of 1987), as amended by section 36 of the Finance Act, 1994 (No. 13 of 1994), and after consultation with the Minister for the Environment, hereby direct as follows:

1. This Order may be cited as the Finance Act, 1987 (Designation of Urban Renewal Areas) (No. 3) Order, 1994.

2. The definition of "designated area" contained in section 41 of the Finance Act, 1986 (No. 13 of 1986), shall include the area described in Part II of the Schedule to the Urban Renewal Act, 1986 (Designated Areas) Order, 1992 ( S.I. No. 342 of 1992 ).

3. As respects the area described as aforesaid, the definition of "qualifying period" in sections 42 , 44 and 45 of the Finance Act, 1986 , as amended by section 35 of the Finance Act, 1994 (No. 13 of 1994), shall be construed as a reference to the period commencing on the 18th day of November, 1992, and ending on the 31st day of July, 1994.

4. The Finance Act, 1987 (Designation of Urban Renewal Areas) (No. 3) Order, 1993 ( S.I. No. 246 of 1993 ), is hereby revoked.

GIVEN under my Official Seal, this 22nd day of September, 1994.

BERTIE AHERN,

Minister for Finance.

EXPLANATORY NOTE.

This Order declares a certain area in Tallaght to be a designated area for the purposes of incentive tax reliefs for urban renewal provided for in the Finance Act 1986 , comprising of capital allowances for commercial buildings, owneroccupier allowance for residential premises and double rent allowance for industrial and commercial premises. The Order also prescribes, in relation to this area, the period of the availability of these incentives, and revokes an earlier Order which has now expired.