Part 8 of the Principal Act is amended -

(a) in section 256(1) -

(i) in paragraph (ii) of the definition of "special term account", by substituting "taker;" for "taker.", and

(ii) by inserting the following after the definition of "special term account":

"'special term share account' has the same meaning as in section 267A.",

(b) in section 261A -

(i) by substituting the following for subsections (2) and (3):

"(2) Interest paid in a year of assessment in respect of a relevant deposit held in a medium term account shall -

(a) be relevant interest only to the extent that such interest exceeds €480, and

(b) as respects the first €480 of such interest, be exempt from income tax and shall not be reckoned in computing total income for the purposes of the Income Tax Acts.

(3) Interest paid in a year of assessment in respect of a relevant deposit held in a long term account shall -

(a) be relevant interest only to the extent that such interest exceeds €635, and