(1)

(a) Where for an accounting period of a close company the distributable estate and investment income exceeds the distributions of the company for the accounting period, there shall be charged on the company an additional duty of corporation tax (in this section referred to as a "surcharge") amounting to 20 per cent of the excess.

(b) Notwithstanding paragraph (a)  -

(i) a surcharge shall not be made on a company where the excess is equal to or less than the lesser of the following amounts -

(I) €2,000 or, if the accounting period is less than 12 months, €2,000 proportionately reduced, and

(II) where the company has one or more associated companies, €2,000 divided by one plus the number of those associated companies or, if the accounting period is less than 12 months, €2,000 proportionately reduced divided by one plus the number of those associated companies;

(ii) where the excess is greater than the lesser amount on which by virtue of subparagraph (i) a surcharge would not be made, the amount of the surcharge shall not be greater than a sum equal to 80 per cent of the amount by which the excess is greater than that lesser amount.

(2) Where the aggregate of -