Textual Amendments
F1Pt. 8B inserted (with effect in accordance with s. 5 of the amending Act) by Corporation Tax (Northern Ireland) Act 2015 (c. 21), s. 1
(1)The Northern Ireland rate for a financial year is—
(a)if a resolution of the Northern Ireland Assembly—
(i)sets a rate under section 357IA for the year, and
(ii)is passed before the beginning of the year,
the rate set by the resolution;
(b)if the Northern Ireland rate for the year is not determined under paragraph (a), but the Northern Ireland rate for one or more earlier financial years was determined under that paragraph, the rate for the most recent of those earlier years;
(c)otherwise, the main rate.
(2)For the purposes of subsection (1)(a)(ii), a resolution passed before the beginning of a financial year is treated as not having been so passed if it is cancelled by a resolution under section 357IA that is itself passed before the beginning of the year.
(1)The Northern Ireland Assembly (“the Assembly”) may by resolution set the Northern Ireland rate for one or more financial years specified in the resolution.
(2)The Assembly may by resolution cancel a resolution under subsection (1).
(3)A resolution under this section may not be passed by the Assembly except in pursuance of a recommendation which—
(a)is made by the [F2Minister of Finance], and
(b)is signified to the Assembly by the Minister or on the Minister's behalf.
(4)A resolution under this section may not be passed by the Assembly without cross-community support.
(5)Section 63 of the Northern Ireland Act 1998 (financial acts of the Assembly) does not apply to a resolution under this section.
(6)This section authorises the setting of a nil rate.
(7)In this section “cross-community support” has the meaning given by section 4(5) of the Northern Ireland Act 1998.]
Textual Amendments
F2Words in s. 357IA substituted (16.11.2017) by Finance (No. 2) Act 2017 (c. 32), Sch. 7 para. 26