Finance Act, 1995
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Amendment of section 51 (application of certain allowances in relation to certain areas and certain expenditure) of Finance Act, 1988. |
26.— Section 51 (as amended by section 33 (1) of the Finance Act, 1993 ) of the Finance Act, 1988 , is hereby amended by the substitution of the following paragraphs for paragraph (c) of subsection (1): | |
“(c) machinery or plant or an industrial building the expenditure on the provision of which is incurred before the 31st day of December, 1995, under a binding contract entered into on or before the 27th day of January, 1988; | ||
(cc) machinery or plant or an industrial building which is provided for the purposes of a project approved by an industrial development agency on or before the 31st day of December, 1988, and in respect of the provision of which expenditure is incurred before the 31st day of December, 1995: | ||
Provided that, as respects machinery or plant or an industrial building which is provided for the purposes of a project approved by an industrial development agency in the period from the 1st day of January, 1986, to the 31st day of December, 1988, paragraph (cc) shall apply as if the reference therein to ‘the 31st day of December, 1995’ were a reference to ‘the 31st day of December, 1996’;”. |