Explanatory note

Section 83(4) of the Capital Allowance Act, 1968, entitles the Treasury to prescribe grants as “relevant” with the consequence that capital expenditure in respect of which the grant is paid will be disqualified from investment and initial allowances for tax purposes. This instrument so prescribes grants made by the Greater London Council under section 3 of the Transport (London) Act, 1969, to the London Transport Executive or to the British Railways Board.