Finance Act, 1998

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Amendment of provisions relating to certain capital allowances.

21.—Part 9 of the Principal Act is hereby amended—

(a) in sections 271 (3)(c) and 273 (7)(a)(i)—

(i) by the insertion in each of those provisions after “the 31st day of December, 1997”, where it first occurs, of the following:

“, or before the 30th day of June, 1998, if such expenditure would have been incurred before the 31st day of December, 1997, but for the existence of circumstances which resulted in legal proceedings being initiated, being proceedings which were the subject of an order of the High Court made before the 1st day of January, 1998”,

and

(ii) by the insertion in each of those provisions after “as if the reference to the 31st day of December, 1997,” of “where it first occurs,”,

and

(b) in sections 283(5) and 285(7)(a)(i)—

(i) by the insertion in each of those provisions after “the 31st day of December, 1997”, where it first occurs, of the following:

“, or before the 30th day of June, 1998, if its provision is solely for use in an industrial building or structure referred to in sections 271(3)(c) and 273(7)(a)(i) and expenditure in respect of such provision would have been incurred before the 31st day of December, 1997, but for the existence of circumstances which resulted in legal proceedings being initiated, being proceedings which were the subject of an order of the High Court made before the 1st day of January, 1998”,

and

(ii) by the insertion in each of those provisions after “as if the reference to the 31st day of December, 1997,” of “where it first occurs,”.