The provision applies a reverse‑charge mechanism to specified supplies: transfers effected by vesting order to NAMA or a NAMA entity; transfers of greenhouse gas emission allowances between taxable persons; specified construction services received by principals under section 530A of the Taxes Consolidation Act 1997; supplies of scrap metal to dealers; construction work supplied to connected recipients in relation to immovable goods; supplies of gas or electricity to taxable dealers; and supplies of gas or electricity certificates. In each case the recipient is treated as the accountable person and liable to pay the tax chargeable as if they made the supply; the supplier is not accountable or liable.

Key definitions and scope are specified: 'NAMA' and 'NAMA entity' reference the National Asset Management Agency Act 2009; 'relevant supply' means transfers effected by section 153 vesting orders; 'allowance', 'greenhouse gases' and 'operator' adopt Article 3 of Directive 2003/87/EC and 'greenhouse gas emission allowances' include transferable allowances and other compliance units; 'dealing in scrap metal' and 'recovery' are defined and examples of 'scrap metal' are listed; 'construction work' covers construction, extension, alteration, demolition and engineering adapting immovable goods; 'gas' means gas supplied through the natural gas distribution system; a 'gas or an electricity certificate' is an electronic document conveying information about source and production.