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Taxes Consolidation Act, 1997 (Number 39 of 1997)


835AAA. Long-term public infrastructure projects

(1) The Minister for Finance, in consultation with the Minister for Public Expenditure and Reform, may make regulations for the purpose of this section specifying an asset is to be treated as a large scale asset, but an asset shall not be so specified unless—

(a) specifying the asset would not give rise to a breach of Article 107 of the Treaty of Functioning of the European Union,

(b) the purpose of the asset is to enhance the general public interest,

(c) it is in the public interest to so specify the asset, and

(d) the financing arrangements for the long-term infrastructure project to which the large scale asset relates present special features which justify such specification.

(2) For the purposes of subsection (1), in determining whether it is in the public interest to specify the asset concerned, the Minister shall have regard to whether—

(a) the asset concerned would be likely to be provided, upgraded, operated, or maintained in the absence of such specification,

(b) specifying the asset concerned would distort fair competition, and

(c) specifying the asset would give rise to a loss of Exchequer income, and whether the public benefit of specifying the asset outweighs any such loss.




Inserted by FA21 s31(3). Comes into operation on 1 January 2022.