Explanatory note

Section 83(1) of the Finance Act 1998 inserted in section 22 of the Capital Allowances Act 1990 (c. 1) provisions which give a 100 per cent first-year allowance for certain expenditure incurred by small or medium-sized businesses on machinery or plant for use primarily in Northern Ireland, provided the expenditure is incurred in the period beginning on 12th May 1998 and ending on 11th May 2002. Section 22 of the 1990 Act was further amended by section 78 of the Finance Act 1999 (c. 16) so as to add to the categories of expenditure excepted from the first-year allowance under that section and to impose, in relation to expenditure in the agriculture and fishing sectors, a condition that the expenditure must first be authorised by the Department of Agriculture for Northern Ireland before it can qualify for the first-year allowance.

Section 83(7) of the 1998 Act provides that no claim for an allowance falling to be made by virtue of section 83(1) of that Act may be made at any time before such date as the Treasury may by order appoint.

This Order appoints 27th July 1999 as the day in question.