S.I. No. 179/1995:

FINANCE ACT, 1994 (DESIGNATION OF URBAN RENEWAL AREAS) ORDER, 1995.

FINANCE ACT, 1994 (DESIGNATION OF URBAN RENEWAL AREAS) ORDER, 1995.

I, RUAIRÍ QUINN, Minister for Finance, in exercise of the powers conferred on me by section 39 (as amended by section 35 of the Finance Act, 1995 , (No. 8 of 1995)) 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, 1994 (Designation of Urban Renewal Areas) Order, 1995.

2. In this Order "the Act" means the Finance Act, 1994 (No. 13 of 1994).

3. Each of the areas described in

Article 2 of the Urban Renewal Act, 1986 (Designated Areas) (Athlone) Order, 1994 ( S.I. No. 372 of 1994 ),

Article 2 of the Urban Renewal Act, 1986 (Designated Areas) (Athlone) (No. 2 Order), 1994 ( S.I. No. 422 of 1994 ),

Part II of the Schedule to the Urban Renewal Act, 1986 (Designated Areas) (Ballinasloe) Order, 1994 ( S.I. No. 373 of 1994 ),

Article 3 of the Urban Renewal Act, 1986 (Designated Areas) (Ballinasloe) Order, 1994 ( S.I. No. 373 of 1994 ),

Article 2 of the Urban Renewal Act, 1986 (Designated Areas) (Bray) Order, 1994 ( S.I. No. 374 of 1994 ),

Article 2 of the Urban Renewal Act, 1986 (Designated Areas) (Carlow) Order, 1994 ( S.I. No. 390 of 1994 ),

Article 2 of the Urban Renewal Act, 1986 (Designated Areas) (Clonmel) Order, 1994 ( S.I. No. 375 of 1994 ),

Part II of the Schedule to the Urban Renewal Act, 1986 (Designated Areas) (Cork) Order, 1994 ( S.I. No. 362 of 1994 ),

Part II of the Schedule to the Urban Renewal Act, 1986 (Designated Areas) (Dublin) Order, 1994 ( S.I. No. 407 of 1994 ),

Article 2 of the Urban Renewal Act, 1986 (Designated Areas) (Dundalk) Order, 1994 ( S.I. No. 376 of 1994 ),

Article 2 of the Urban Renewal Act, 1986 (Designated Areas) (Dungarvan) Order, 1994 ( S.I. No. 378 of 1994 ),

Article 2 of the Urban Renewal Act, 1986 (Designated Areas) (Enniscorthy) Order, 1994 ( S.I. No. 377 of 1994 ),

Article 2 of the Urban Renewal Act, 1986 (Designated Areas) (Galway) Order, 1994 ( S.I. No. 369 of 1994 ),

Article 2 of the Urban Renewal Act, 1986 (Designated Areas) (Kilkenny) Order, 1994 ( S.I. No. 379 of 1994 ),

Part II of the Schedule to the Urban Renewal Act, 1986 (Designated Areas) (Killarney) Order, 1994 ( S.I. No. 380 of 1994 ),

Article 3 of the Urban Renewal Act, 1986 (Designated Areas) (Killarney) Order, 1994 ( S.I. No. 380 of 1994 ),

Article 2 of the Urban Renewal Act, 1986 (Designated Areas) (Letterkenny) Order, 1994 ( S.I. No. 381 of 1994 ),

Part II of the Schedule to the Urban Renewal Act, 1986 (Designated Areas) (Limerick) Order, 1994 Order, 1994 ( S.I. No. 364 of 1994 ),

Article 2 of the Urban Renewal Act, 1986 (Designated Areas) (Longford) Order, 1994 ( S.I. No. 382 of 1994 ),

Article 2 of the Urban Renewal Act, 1986 (Designated Areas) (Mallow) Order, 1994 ( S.I. No. 383 of 1994 ),

Article 2 of the Urban Renewal Act, 1986 (Designated Areas) (Monaghan) Order, 1994 ( S.I. No. 384 of 1994 ),

Article 2 of the Urban Renewal Act, 1986 (Designated Areas) (Mullingar) Order, 1994 ( S.I. No. 387 of 1994 ),

Article 2 of the Urban Renewal Act, 1986 (Designated Areas) (Navan) Order, 1994 ( S.I. No. 385 of 1994 ),

Article 2 of the Urban Renewal Act, 1986 (Designated Areas) (Nenagh) Order, 1994 ( S.I. No. 386 of 1994 ),

Article 2 of the Urban Renewal Act, 1986 (Designated Areas) (Newbridge) Order, 1994 ( S.I. No. 388 of 1994 ),

Article 2 of the Urban Renewal Act, 1986 (Designated Areas) (Portlaoise) Order, 1994 ( S.I. No. 389 of 1994 ),

Article 2 of the Urban Renewal Act, 1986 (Designated Areas) (Roscommon) Order, 1994 ( S.I. No. 368 of 1994 ),

Article 2 of the Urban Renewal Act, 1986 (Designated Areas) (Sligo) Order, 1994 ( S.I. No. 365 of 1994 ),

Article 2 of the Urban Renewal Act, 1986 (Designated Areas) (Tralee) Order, 1994 ( S.I. No. 361 of 1994 ),

Article 2 of the Urban Renewal Act, 1986 (Designated Areas) (Tullamore) Order, 1994 ( S.I. No. 371 of 1994 ),

Article 2 of the Urban Renewal Act, 1986 (Designated Areas) (Waterford) Order, 1994 ( S.I. No. 370 of 1994 ),

Article 2 of the Urban Renewal Act, 1986 (Designated Areas) (Wexford) Order, 1994 ( S.I. No. 363 of 1994 ),

Article 2 of the Urban Renewal Act, 1986 (Designated Areas) (Wicklow) Order, 1994 ( S.I. No. 367 of 1994 ),

The description of Designated Area in Castlebar contained in Part II of the Schedule to the Urban Renewal Act, 1986 , (Designated Areas) Order, 1988, ( S.I. No. 92 of 1988 ), and

The descriptions of Designated Areas in Ballina, Drogheda and Ennis contained in Part II of the Schedule to the Urban Renewal Act, 1986 (Designated Areas) (No. 2) Order, 1990, ( S.I. No. 289 of 1990 )

shall be a designated area for the purposes of Chapter IV of the Act.

4. Each of the streets or parts of the streets described in

Part III of the Schedule to the Urban Renewal Act, 1986 (Designated Areas) (Cork) Order, 1994, ( S.I. No. 362 of 1994 ),

Part IV of the Schedule to the Urban Renewal Act, 1986 (Designated Areas) (Dublin) Order, 1994 ( S.I. No. 407 of 1994 ),

The schedule to the Urban Renewal Act, 1986 (Designated Areas) (Galway) Order, 1994 ( S.I. No. 369 of 1994 ),

Part III of the Schedule to the Urban Renewal Act, 1986 (Designated Areas) (Limerick) Order, 1994, ( S.I. No. 364 of 1994 ), and

The Schedule to the Urban Renewal Act, 1986 (Designated Areas) (Waterford) Order, 1994, ( S.I. No. 370 of 1994 )

shall be a designated street for the purposes of Chapter IV of the Act.

5. Each of the designated areas described in

Article 4 of the Urban Renewal Act, 1986 (Designated Areas) (Cork) Order, 1994, ( S.I. No. 362 of 1994 ),

Part III of the Schedule to the Urban Renewal Act, 1986 (Designated Areas) (Dublin) Order, 1994, ( S.I. No. 407 of 1994 ), and

Article 4 of the Urban Renewal Act, 1986 (Designated Areas) (Galway) Order, 1994, ( S.I. No. 369 of 1994 )

shall be an enterprise area for the purposes of Chapter IV of the Act.

6. The definition of "qualifying period" in section 38 (1) of the Act shall, as respects the designated areas, designated streets and enterprise areas described in Articles 3, 4 and 5 of this Order, be construed as a reference to the period commencing on the 1st day of August, 1994, and ending on the 31st day of July, 1997, and accordingly, references in Chapter IV of the Act to the qualifying period shall, as respects the designated areas, designated streets and enterprise areas aforesaid, be construed as references to the period aforesaid.

GIVEN under my Official Seal, this 7th day of July, 1995.

RUAIRÍ QUINN,

Minister for Finance.

EXPLANATORY NOTE.

This Order declares certain areas in Dublin, Cork, Limerick, Waterford, Galway, Athlone, Ballina, Ballinasloe, Bray, Carlow, Castlebar, Clonmel, Drogheda, Dundalk, Dungarvan, Ennis, Enniscorthy, Kilkenny, Killarney, Letterkenny, Longford, Mallow, Monaghan, Mullingar, Navan, Nenagh, Newbridge, Portlaoise, Roscommon, Sligo, Tralee, Tullamore, Wexford, and Wicklow to be designated areas for the purposes of incentive tax reliefs for urban renewal provided for in the Finance Act, 1994 . The incentives are comprised of capital allowances for commercial buildings, accelerated capital allowances for certain industrial buildings, reliefs for the construction, conversion and refurbishment of rented residential accommodation, owner-occupier allowance for residential premises and double rent allowance for traders in respect of new leases of certain buildings in the designated areas.

The Order also declares certain streets and parts of streets in Cork, Dublin, Galway, Limerick and Waterford to be designated streets for the purposes of incentive tax reliefs for the provision of residential accommodation in commercial and industrial premises fronting onto designated streets. The incentives are provided for in the Finance Act, 1994 , and comprise of reliefs for the conversion and refurbishment of rented residential accommodation and owner-occupier allowance for refurbishment of residential premises. Accelerated capital allowances for industrial buildings and capital allowances for commercial premises are available in respect of refurbishment expenditure on the business, subject to certain conditions.

In addition, the Order declares certain areas in Dublin, Cork and Galway to be enterprise areas for the purposes of incentive tax reliefs for enterprise areas provided for in the Finance Act, 1994 (as amended), comprising of capital allowances in respect of buildings in the enterprise areas used by qualifying companies and double rent allowance for qualifying business tenants.

Finally, the Order specifies the period in which these tax incentives are available in the designated areas, designated streets and enterprise areas.