(1) In this section-

"agricultural property" has the meaning assigned to it by section 89;

"current use value"―

(a) in relation to land at any particular time, means the amount which would be the market value of the land at that time if the market value were calculated on the assumption that it was at that time and would remain unlawful to carry out any development (within the meaning of section 3 of the Planning and Development Act 2000) in relation to the land other than development of a minor nature, and

(b) in relation to shares in a company at any particular time, means the amount which would be the value of the shares at that time if the market value were calculated on the same assumption, in relation to the land from which the shares derive all or part of their value, as is mentioned in paragraph (a);

"development land" means land in the State, the market value of which at the date of a gift or inheritance exceeds the current use value of that land at that date, and includes shares deriving their value in whole or in part from such land;

"development of a minor nature" means development (not being development by a local authority or statutory undertaker within the meaning of section 2 of the Planning and Development Act 2000) which, under or by virtue of section 4 of that Act, is exempted development for the purposes of that Act;

"relevant business property" shall be construed in accordance with section 93;

"valuation date" shall be construed in accordance with section 30.

(2) Where-

(a) relief has been granted by virtue of section 89(2) or section 92 in respect of a gift or inheritance of agricultural property or, as the case may be, relevant business property,

(b) the property is comprised, in whole or in part, of development land, and

(c) the development land is disposed of in whole or in part by the donee or successor at any time in the period commencing 6 years after the date of the gift or inheritance and ending 10 years after that date,

then tax shall be re-computed at the valuation date of the gift or inheritance as if the amount by which the market value of the land disposed of exceeds its current use value at that date was the value of property which was not-

(i) agricultural property, or

(ii) relevant business property,

as the case may be, and tax shall be payable accordingly.