Amendments Nos. 67 and 68 are related and may be discussed together.
SECTION 17.
I move amendment No. 67:
In page 51, line 28, to delete "not".
Section 17 targets gains on the maturity of foreign life assurance policies issued after 20 May. The gains on life assurance policies issued by an Irish company or branch are effectively charged tax at source, which is a corporation tax imposed on gains as they accrue to the benefit of policy holders within the company or branch. Amendments Nos. 67 and 68 correct the unintended result of section 17.
Amendment agreed to.
I move amendment No. 68:
In page 51, line 30, after "1993," to insert "otherwise than".
Amendment agreed to.
Section 17, as amended, agreed to.