Interest tax exemption for interest accruing after a specified cut off; non chargeability applies from the stated effective date. Amendment inserts a new sub section into section 4 of the Interest tax Act, 1974, providing that no interest tax shall be charged on any chargeable interest accruing or arising after 31 March 2000, with effect from 1 April 2001, operating notwithstanding earlier sub sections of section 4.