{
  "url": "https://openlegislation.uk/finance-act-2006/schedule-8/paragraph-17",
  "json_url": "https://openlegislation.uk/finance-act-2006/schedule-8/paragraph-17.json",
  "legislation": "ukpga/2006/25",
  "legislation_title": "Finance Act 2006",
  "legislation_url": "https://openlegislation.uk/finance-act-2006",
  "path": "schedule/8/paragraph/17",
  "kind": "paragraph",
  "number": "17",
  "heading": null,
  "text": "(1) A lease is an excepted lease if the following conditions are met.\n(2) Condition 1 is that before 21st July 2005 there was evidence in writing that there was agreement, or a common understanding, between the lessor's side and the lessee's side as to the principal terms of the lease (the “pre-existing heads of agreement”).\nThe definitions of “the lessor's side”, “the lessee's side” and “the principal terms” are in paragraph 27.\n(3) Condition 2 is that the leased plant or machinery was under construction (see paragraph 24) before 1st April 2006.\n(4) Condition 3 is that the lease has been finalised before 1st April 2007 (but see sub-paragraph (8)).\n(5) Condition 4 is that the commencement of the term of the lease is before 1st April 2007 (but see sub-paragraph (8)).\n(6) Condition 5 is that the lessee is the particular person or persons identified as such in the pre-existing heads of agreement.\n(7) Condition 6 is that the principal terms of the lease are not (or, apart from section 70M of CAA 2001, would not be) materially different from those in the pre-existing heads of agreement.\n(8) Sub-paragraphs (4) and (5) have effect with the substitution of “ 2009 ” for “2007” if the additional conditions in paragraph 18 are met.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2006/25/schedule/8/paragraph/17",
    "retrieved_at": "2026-10-29T09:14:22.939634+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}