F1PART 8BTrading profits taxable at the Northern Ireland rate
CHAPTER 2The Northern Ireland rate
357IAPower of Northern Ireland Assembly to set Northern Ireland rate
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.
Pt. 8B inserted (with effect in accordance with s. 5 of the amending Act) by Corporation Tax (Northern Ireland) Act 2015 (c. 21), s. 1