848S Regulations

Summary

This section obliges the Revenue Commissioners to make regulations relating to the administration of the SSIA scheme. These regulations must be laid before Dáil Éireann.

Details

Requirement of regulations in certain situations

(1) The Revenue Commissioners are required to make regulations providing for the administration of the SSIA scheme. Specifically, regulations are targeted at the following —

• registration of a qualifying savings manager;
• making a monthly or annual return to the Revenue Commissioners;
• the payment of tax credits by the Revenue Commissioners;
• situations where a qualifying savings manager is required to give a bond or guarantee to the Revenue Commissioners in order to indemnify the Commissioners against any loss due to fraud or negligence on the part of the qualifying savings manager in the operation of the SSIA scheme;
• in general compliance of the qualifying savings manager with the terms of the SSIA scheme.

Assent of Dáil Éireann

(2) Such regulations must be laid before Dáil Éireann. Dáil Éireann has 21 days to annul the regulation without prejudicing any actions carried out under the regulation while it was in force.

Relevant Date: Finance Act 2021