Paragraph 12

England, Wales and Scotland

(1)

Nothing in—

F1(a)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(b)

F2section 176(2) or (3) of that Act, or

(c)

F3sections 67 and 68. of that Act,

shall, by reason only of any provision made by or under a PPP agreement, affect the entitlement of any company to capital allowances in respect of capital expenditure incurred by it.

(2)

Where, in accordance with any provision made by or under a PPP agreement, any machinery or plant in respect of which a company has been entitled to allowances under F4Part 2 of the Capital Allowances Act 2001 falls to be transferred, on the expiration of the term of the PPP agreement, from the company—

(a)

to a relevant body, or

(b)

to such other body or person as a relevant body may specify in accordance with the PPP agreement,

the disposal constituted by that transfer shall be deemed for the purposes of that Part to be for a nil consideration, notwithstanding F5item 7 in the Table in section 61(2) of that Act.

Annotations

Textual amendments

F1: Words in Sch. 33 para. 12(1)(a) repealed (22.3.2001 with effect as mentioned in s. 579(1) of the amending Act) by 2001 c. 2, ss. 578, 580, Sch. 2 para. 105(9)(a), Sch. 4
F2: Words in Sch. 33 para. 12(1)(b) substituted (22.3.2001 with effect as mentioned in s. 579(1) of the amending Act) by 2001 c. 2, s. 578, Sch. 2 para. 105(9)(b)
F3: Words in Sch. 33 para. 12(1)(c) substituted (22.3.2001 with effect as mentioned in s. 579(1) of the amending Act) by 2001 c. 2, s. 578, Sch. 2 para. 105(9)(c)
F4: Words in Sch. 33 para. 12(2) substituted (22.3.2001 with effect as mentioned in s. 579(1) of the amending Act) by 2001 c. 2, s. 578, Sch. 2 para. 105(10)(a)
F5: Words in Sch. 33 para. 12(2) substituted (22.3.2001 with effect as mentioned in s. 579(1) of the amending Act) by 2001 c. 2, s. 578, Sch. 2 para. 105(10)(b)