Pre-Finance Bill 2020 submission to Department of Finance

Aug 17, 2020

Several important technical issues in need of legislative amendment are highlighted in a recent letter to the Department of Finance by the CCAB-I.  The matters requiring legislative amendment in Finance Act 2020 relate to stock lending and repurchase arrangements, the migration of Crest to Euroclear Bank, clarity on the availability of the stamp duty exemption for aircraft leasing share transactions and the need to defer the introduction of interest limitation rules on foot of COVID-19 economic disruption.  

A number of these issues have been discussed at TALC by CCAB-I representatives and the outcome is that a legislative amendment is necessary to bring about the requisite clarity. The CCAB-I’s letter to the Department of Finance gives more information on each of the matters highlighted.