16 Meaning of “general decommissioning expenditure”
Finance Act 2021 (2021 c 26) | Legislation

16  Meaning of “general decommissioning expenditure”

(1)     Chapter 13 of Part 2 of CAA 2001 (plant and machinery allowances: provisions affecting mining and oil industries) is amended as follows.

(2)     Section 163 (meaning of “general decommissioning expenditure” for purposes of sections 164 and 165) is amended as follows.

(3)     In subsection (1), at the end of paragraph (a), omit “or” and insert—

“(aa)     the condition in subsection (3AB) is met, or”.

(4)     In subsection (2), for “that is” substitute “paragraphs (a) and (b) of subsection (1) are”.

(5)     In subsection (3A)—

(a)     in the words before paragraph (a), omit “in complying with”;

(b)     in paragraph (a), at the beginning insert “in complying with”;

(c)     in paragraph (b)—

(i)     at the beginning insert “in complying with”;

(ii)     at the end omit “or”;

(d)     in paragraph (c)—

(i)     at the beginning insert “in complying with”;

(ii)     at the end insert “, or

(d)     otherwise in anticipation of a decommissioning measure.”

(6)     After subsection (3A) insert—

“(3AA)     For the purposes of subsection (3A)(d),

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Novation—why and how to novate a contract

Novation—why and how to novate a contractThere may be times when, rather than assigning the benefit of an agreement to a third party, the original parties wish instead to end their obligations to each other under that agreement and, in effect, recreate it, with the third party stepping into the

LEXISNEXIS

Proprietary estoppel

Proprietary estoppelThis Practice Note considers proprietary estoppel from a generic standpoint.For industry specific guidance on proprietary estoppel, see Practice Notes:•Estoppel and property law•Mortgages by estoppelProprietary estoppel—what is it?Unlike the other forms of estoppel (see Practice

LEXISNEXIS

A married but non-cohabiting couple are looking to extend their leave under Tier 2 (General). They have

A married but non-cohabiting couple are looking to extend their leave under Tier 2 (General). They have not been living at the same address in the UK since 2017 but are in a genuine relationship. What effect will this have on their extension application?Immigration Rules, Part 8, para 319C sets out

LEXISNEXIS

Notice of assignment

notice of [assignment OR transfer]To: [insert name of landlord][of [insert address] OR whose registered office is at [insert address] Company number [insert number]][and][To: [insert name of head landlord]][of [insert address] OR whose registered office is at [insert address] Company number [insert