I am advised by Revenue that the company referred to applied for outline approval on 18 August 2017, which was approved on 4 December 2017. An EII1 Application was then received from the company on the 11 May 2018. Additional information and clarifications were sought from the company from 1 August to 22 October. The company received an answer from Revenue on 9 November.
The Deputy will note that, in Finance Bill 2018, I have moved to change the administration of EII to a self-certification model. Under this model, a company will be able to self-certify that it complies with the conditions of the relief applicable to the company, while investors will self-certify that they meet the conditions of the relief applicable to the investors. In this way, companies and investors will not have to wait on Revenue’s certification before claiming relief.