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then, subject to subsection (6), if the landlord has not exercised the landlord’s option to tax in accordance with section 97 in respect of the letting of those immovable goods at the time of the cessation or does not have a waiver of his or her right to exemption from tax in accordance with section 96(2) to (5) still in effect at the time of the cessation —

“NAMA entity” means a person or body of persons to which NAMA is connected within the meaning of section 97(3);

(b) Where an accountable person supplies construction work in the State to a taxable person (in this subsection referred to as a ‘recipient’) to whom the accountable person is connected (within the meaning of section 97(3)), then—

“landlord’s option to tax” has the meaning assigned to it by section 97;

(b) that other person exercises an option to tax that letting in accordance with section 97(1)(a)(i),

(5) (a) Where a capital goods owner who is a landlord in respect of all or part of a capital good terminates his or her landlord’s option to tax in accordance with section 97(1) in respect of any letting of that capital good, then—

(b) Where in respect of a letting of a capital good that is not subject to a landlord’s option to tax in accordance with section 97(1), a landlord subsequently exercises a landlord’s option to tax in respect of a letting of that capital good, then—

(ii) at the time of that supply or transfer, that owner and the person to whom the capital good is supplied or transferred are connected within the meaning of section 97, and

(ii) at the time of that supply or transfer, that owner and the person to whom the capital good is supplied or transferred are connected within the meaning of section 97, and

(II) was a transaction between persons who were not connected within the meaning of section 97,

(II) was a transaction between persons who were not connected within the meaning of section 97,

(d) Paragraph (b) shall not apply where the purchaser is a person connected (within the meaning of section 97(3)) with either the vendor or the owner.

(ii) the person who makes that supply is a person who developed the immovable goods in the course of a business of developing immovable goods or a person connected with that person within the meaning of section 97(3), and

(d) Where a relevant supply is a supply of immovable goods to which this subsection would apply, the recipient shall be treated thereafter, for the purposes of this subsection in respect of those immovable goods, as if that recipient were a person connected (within the meaning of section 97(3)) to the person who developed those immovable goods.