Article 2 Writing-down allowances – industrial buildings and structures

The amount specified in column (2) of Part I or Part II of Schedule 1 to this Order in relation to a successor company (being a company wholly owned by the Crown) shall be taken, for the purposes of subsection (3) of section 2 of the Capital Allowances Act 1968^f1 (writing-down allowances), to be the residue on the transfer date of expenditure in relation to which the property vested in that company in accordance with a scheme under Schedule 2 to the Act and described in column (1) of the said Part I or Part II is a relevant interest for the purposes of the said section 2.

The period specified in column (3) of Part I or Part II of Schedule 1 in relation to a successor company shall be treated, for the purposes of the said section 2, and in relation to the property vested and described as mentioned in paragraph (1), as the part of the period of 25 or, as the case may be, 50 years which is unexpired on the transfer date.