Taxes Consolidation Act 1997 section 372U

Interpretation (Chapter 9)

Section 372U is the interpretation section for Chapter 9, which provides tax incentives for the development of park and ride facilities together with related commercial and residential accommodation.

• Defines the key terms used throughout the Chapter, including "park and ride facility", "qualifying park and ride facility", "property developer" and "the relevant local authority".
• Sets the qualifying period as commencing on 1 July 1999 and ending on 31 December 2004, with possible extensions to 31 December 2006 and 31 July 2008 where specified conditions are met.
• Requires the relevant local authority to certify in writing that a facility complies with Ministerial guidelines before it can be treated as a qualifying park and ride facility.
• Lists the matters that may be addressed by guidelines issued by the Minister for the Environment and Local Government, covering site selection, transport services, parking, hours of operation and any commercial or residential development.