17 Extensions of plant or machinery leases for reasons related to coronavirus
Finance Act 2021 (2021 c 26) | Legislation

17  Extensions of plant or machinery leases for reasons related to coronavirus

(1)     In Part 2 of CAA 2001, Chapter 6A (interpretation of provisions about long funding leases) has effect subject to the following modifications.

(2)     Section 70YB (long funding operating lease: extension of term of lease) has effect as if, in subsection (1), at the beginning there were inserted “Subject to section 70YCA (extension of term of lease for reasons related to coronavirus),”.

(3)     Section 70YC (extension of term of lease that is not a long funding lease) has effect as if, in subsection (1), at the beginning there were inserted “Subject to section 70YCA (extension of term of lease for reasons related to coronavirus),”.

(4)     That Chapter has effect as if after section 70YC there were inserted—

“70YCA Extension of term of lease for reasons related to coronavirus

(1)     Sections 70YB(1) and 70YC(1) (extension of lease terms) do not apply in any case where subsection (2) applies (but

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