S.L. 16.13 Art. 3Where club premises generate income from economic activity.

(1) Where club premises or part thereof to which these regulations apply are used for the generation of income through an economic activity carried out in the said premises, then as from the

1st January 2015 the tenant of the said premises shall also pay the person entitled to receive the rent a sum equivalent to five per cent of the annual income derived by the club from the said economic activity, other than income derived from fund raising or philanthropic activities organized and managed by the club itself:

Provided that for the purposes of this regulation, income generated from economic activity means any income which is directly or indirectly derived from the bar and, or restaurant and from any lease, sub-lease, lease of a going-concern or a management agreement of the said premises that is leased out as a club or part thereof.

(2) The amount referred to in sub-regulation (1) shall be calculated on an annual basis and shall be payable by the 30th September of the following year with the first payment being due in respect of the year 2015 by the 30th September 2016.

(3) The annual income referred to in sub-regulation (1) shall be

*see regulation 1(2) of these Regulations as originally promulgated. calculated on the basis of financial statements signed by a certified public accountant in the case of clubs having an income of less than €200,000 per annum and by audited financial statements in the case of clubs having an income of €200,000 or more per annum.