Taxes Consolidation Act 1997 section 848S

Regulations

Section 848S required the Revenue Commissioners to make regulations for the administration of the Special Savings Incentive Account (SSIA) scheme and provided that such regulations were to be laid before Dáil Éireann.

• Revenue was obliged to make regulations covering registration of qualifying savings managers, the making of returns, and the payment of tax credits under the SSIA scheme.
• Regulations could also require a qualifying savings manager to provide a bond or guarantee to indemnify Revenue against losses arising from the manager's fraud or negligence.
• Regulations could address the manner in which a qualifying savings manager ensured compliance with the terms of SSIAs.
• All regulations made under this section had to be laid before Dáil Éireann and could be annulled by resolution within 21 sitting days.