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Amendment of Chapter 11 (reliefs for lessors and owner-occupiers in respect of expenditure incurred on the provision of certain residential accommodation) of Part 10 of Principal Act.
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30.—(1) Chapter 11 of Part 10 of the Principal Act is amended—
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(a) in section 372AK, in paragraph (b) of the definition of “refurbishment”, by inserting “carried out” after “renewal”,
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(b) in section 372AM(4)(c)(ii)(II) by substituting “the conversion or the refurbishment of the house” for “the refurbishment of the house”, and
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(c) in section 372AS by inserting the following after subsection (2):
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“(2A) For the purposes of determining the amount of eligible expenditure or qualifying expenditure incurred on or in relation to a building, the site of which—
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(a) is situated partly inside and partly outside the boundary of a qualifying urban area, or
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(b) is situated partly inside and partly outside the boundary of a qualifying town area,
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and where expenditure incurred or treated as having been incurred in the qualifying period is attributable to the building in general, such an amount of that expenditure shall be deemed to be attributable to the part which is situated outside the boundary of the qualifying area as bears to the whole of that expenditure the same proportion as the floor area of the part situated outside the boundary of the qualifying area bears to the total floor area of the building.”.
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(2) Subsection (1) is deemed to have applied as on and from 1 January 2002.
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