Section 18 General business expenditure and long term business expenditure.

United Kingdom

(1)

In this Act “general business expenditure” means—

(a)

any expenditure of the Board under section 6, 7 or 8 above; and

(b)

any expenditure attributed by the Board under subsection (3) below to general business expenditure.

(2)

In this Act “long term business expenditure” means—

(a)

any expenditure of the Board under section 10 or 11 above; and

(b)

any expenditure attributed by the Board under subsection (3) below to long term business expenditure.

(3)

The Board may, in the case of—

(a)

any expenditure under section 15 or 16 above;

(b)

any expenditure in repaying or servicing any loans; and

(c)

any expenditure on their administrative expenses in performing their functions under this Act;

attribute that expenditure to general business expenditure or to long term business expenditure, or partly to the one and partly to the other, in such manner as may appear to them to be reasonable in the circumstances of the case.

Notes on the whole Act

Textual amendments

F1

Act repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 3(1)(a)

Act continued for certain purposes (subject to modifications) (1.12.2001) by S.I. 2001/2967, arts. 1(2), 9, 11, Sch. 1 Pt. I; S.I. 2001/3538, art. 1(2)