PART VI

Capital Acquisitions Tax

222. —In this Part “the Principal Act” means the Capital Acquisitions Tax Act, 1976 .

223. —(1) Section 2 of the Principal Act (as amended by the Finance Act, 1989 ) is hereby amended by the substitution of the following for the interpretation of the word “child” in subsection (1):

“‘child’ includes—

(a) a stepchild;

(b) a child adopted—

(i) under the Adoption Acts, 1952 to 1991; or

(ii) under a foreign adoption which by virtue of section 2 , 3 , 4 or 5 of the Adoption Act, 1991 , is deemed to have been effected by a valid adoption order within the meaning of section 1 of that Act;”.

(2) This section shall have effect in relation to gifts and inheritances taken on or after the 30th day of May, 1991.

224. —(1) Section 106 of the Finance Act, 1984 , is hereby amended—

(a) in subsection (1) (as amended by the Finance Act, 1985 ), by the substitution of “21 years” for “25 years” in paragraph (c), and

(b) by the insertion after subsection (2) of the following subsection—

“(2A) Property which, under or in consequence of any disposition, is subject to a discretionary trust on the 31st day of January, 1993, shall, for the purposes of subsection (1), be deemed to become subject to the trust on that date.”.

(2) Subsection (1)(a) shall have effect in relation to property which becomes subject to a discretionary trust on or after the 31st day of January, 1993.

225. —(1) The definition of “chargeable discretionary trust” in section 102 of the Finance Act, 1986 , is hereby amended by the substitution of “21 years” for “25 years” in paragraph (b).

(2) This section shall have effect in relation to any chargeable date occurring on or after the 5th day of April, 1994.