600S. Reporting of relief by qualifying companies

(1) Where, in an accounting period, a qualifying company issued shares in respect of which an entitlement to claim relief under section 600M may apply on the disposal of those shares, subsections (2) to (5) shall apply to the qualifying company for the period.

(2) A qualifying company shall include details of the qualifying investment in a return required under Part 41A for the accounting period in which the eligible shares were issued, and the company shall, notwithstanding anything to the contrary in Part 41A or section 1084, be deemed for that accounting period to be a chargeable person for the purposes of Chapter 3 of Part 41A.

(3) A qualifying company shall, not more than 4 months after the end of the year of assessment in which the shares were issued for a qualifying investment, provide to the Revenue Commissioners, through such electronic means as they make available, such information—

(a) as they may require for the purposes of the annual reports required in accordance with Article 11 of the General Block Exemption Regulation, including:

(i) the name of the company;

(ii) the address of the company;

(iii) the Companies Registration Office number of the company;

(iv) the amount of finance raised;

(v) the date of the share issue,

and

(b) as they may require for the administration of relief under this Chapter, including:

(i) the investor’s name, address and PPS Number, or the partnership name, address and tax registration number, as the case may be;

(ii) the amount of the relevant investment per investor, or partnership, as the case may be.

(4) Notwithstanding any obligation to maintain secrecy or any other restriction on the disclosure of information imposed by or under statute or otherwise, the Revenue Commissioners, or any other officer authorised by them for the purposes of this subsection—

(a) may furnish the information obtained in accordance with subsection (3)(a) to the person submitting the annual reports referred to in that subsection, and

(b) shall publish the following information in relation to all qualifying companies:

(i) the name of the company;

(ii) the address of the company;

(iii) the Companies Registration Office number of the company;

(iv) the amount of finance raised;

(v) the date of the share issue.

(5) Where a company fails to comply with a requirement to furnish information in accordance with this section, that company shall be liable to a penalty of €2,000 and, if that failure continues after the date on which the return shall be filed under Part 41A, or 30 days, as appropriate, a further penalty of €50 for each day on which the failure so continues.