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Taxes Consolidation Act, 1997 (Number 39 of 1997)


Chapter 9


508L. Prevention of misuse

An individual shall not be entitled to relief in respect of any shares unless—

(a) the raising of risk aid financing by the company, and

(b) the subscription for shares by the individual,

is for bona fide commercial purposes and not as part of a scheme or arrangement the main purpose or one of the main purposes of which is the avoidance of tax.




Inserted by FA18 s25(1). Has effect as respects shares issued on or after 1 January 2019.