Finance Act, 1999
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Amendment of section 403 (restriction on use of capital allowances for certain leased assets) of Principal Act. |
52.—(1) Section 403 of the Principal Act is hereby amended, in subsection (9) (as amended by the Finance Act, 1998 )— | |
(a) in subparagraphs (i) and (ii) of paragraph (a), by the substitution of “lessee or lessor” for “lessee” in each place where it occurs, and | ||
(b) in paragraph (b), by the substitution of the following for subparagraph (ii): | ||
“(ii) where it is so provided on or after that day, be used by the lessee for the purposes only of a specified trade carried on in the State by the lessee and, except where the lessor provides the machinery or plant for leasing in the course of a specified trade carried on by the lessor, that it will not be used for the purposes of any other trade, or business or activity other than the lessor's trade.”. | ||
(2) This section shall apply as on and from the 4th day of March, 1998. |