Capital Acquisitions Tax Consolidation Act 2003 section 116

Regulations

Section 116 empowers the Revenue Commissioners to make regulations necessary to give effect to the Capital Acquisitions Tax Consolidation Act 2003 and sets out the parliamentary oversight process for such regulations.

• The Revenue Commissioners have the power to make any regulations they consider necessary to implement the Act and to carry out their functions under it.
• Every regulation made under this section must be laid before Dáil Éireann as soon as practicable after it is made.
• Dáil Éireann may annul a regulation by passing a resolution within 21 sitting days of the regulation being laid before it.
• If a regulation is annulled, anything validly done under it before the annulment remains valid and is not affected.