Regulation 24

For sub-paragraph (a) of paragraph (4) of regulation 37C^f1 there shall be substituted the following—

“(a)

where the owner is a registered person when he imports, acquires or is supplied with the item as a capital item, the first interval shall commence on the day of the importation, acquisition or supply and shall end on the day before the commencement of his tax year following that day;”.