Capital Allowances Act 2001 (c. 2)

(The document as of February, 2008)

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(7) In paragraph 18(2), for "section 533 of the 1988 Act" substitute "section 464(2) of the Capital Allowances Act".

(8) In paragraph 19(1), for "section 530 of the 1988 Act (disposal of know-how)" substitute "section 454 of the Capital Allowances Act (qualifying expenditure)".

(9) In paragraph 19(2), after "Subsections (2) and (7) of section 531 of the 1988 Act (provisions supplementary to section 530)" insert "and subsections (2) and (3) of section 455 of the Capital Allowances Act (excluded expenditure)".

(10) In paragraph 19(3), for "section 533(7) of the 1988 Act" substitute "section 452(2) of the Capital Allowances Act".

(11) In paragraph 20, for "Part II of the Capital Allowances Act 1990 (machinery and plant)" substitute "Parts 2, 7 and 8 of the Capital Allowances Act (plant and machinery, know-how and patents)".

(12) In paragraph 22, for "Capital Allowances Acts" substitute "Capital Allowances Act".

The Finance Act 1996 (c. 8)

Section 151 (benefits under pilot schemes)

95 In subsection (2), for "section 153 of the Capital Allowances Act 1990 (subsidies etc.)" substitute "section 532 of the Capital Allowances Act (exclusion of expenditure met by contributions)".

Schedule 8 (loan relationships)

96 In paragraph 3(6)(c)(i), for "section 28 of the Capital Allowances Act 1990 (machinery and plant of investment companies)" substitute "Part 2 of the Capital Allowances Act (plant and machinery allowances)".

The Broadcasting Act 1996 (c. 55)

Schedule 7 (transfer schemes relating to BBC transmission network: taxation provisions)

97 (1) in paragraph 1(1), omit the definition of "the Allowances Act" and for the definition of "the Capital Allowances Acts" substitute--

" "the Capital Allowances Act" means the Capital Allowances Act 2001 and includes, where the context admits, enactments which under the Taxes Act 1988 are to be treated as contained in the Capital Allowances Act 2001. "

(2) In paragraph 1(3)(b), for "the Capital Allowances Acts" substitute "the Capital Allowances Act".

(3) In paragraph 12(3)--

(a) for "the Capital Allowances Acts" substitute "the Capital Allowances Act", and

(b) for "those Acts" substitute "that Act".

(4) In paragraph 13(1)--

(a) in the heading, omit "and structures", and

(b) for "Part I of the Allowances Act (industrial buildings and structures)" substitute "Part 3 of the Capital Allowances Act (industrial buildings allowances)".

(5) In paragraph 13(2), for "Part I of the Allowances Act" substitute "Part 3 of the Capital Allowances Act".

(6) In paragraph 14(1)--

(a) in the heading, for "machinery and plant" substitute "plant and machinery", and

(b) for "Part II of the Allowances Act (capital allowances in respect of machinery and plant)" substitute "Part 2 of the Capital Allowances Act (plant and machinery allowances)".

(7) In paragraph 15(2)--

(a) for "paragraphs (a) and (b) of subsection (1) of section 55 of the Allowances Act (expenditure incurred by incoming lessee: transfer of allowances)" substitute "section 183(1)(a) and (b) of the Capital Allowances Act (incoming lessee where lessor entitled to allowances)",

(b) for "Part II" substitute "Part 2", and

(8) In paragraph 15(3)--

(a) for "paragraphs (a), (c) and (d) of section 56 of the Allowances Act (expenditure incurred by incoming lessee: lessor not entitled to allowances)" substitute "section 184(1)(a) to (c) of the Capital Allowances Act (incoming lessee where lessor not entitled to allowances)", and

(b) for "Part II" substitute "Part 2".

(9) In paragraph 16, for "Part II of the Allowances Act (machinery and plant)" substitute "Part 2 of the Capital Allowances Act (plant and machinery allowances)".

(10) For paragraph 17 substitute--

" Capital allowances: agricultural buildings allowances

17 (1) This paragraph applies where there is a relevant transfer of property which is the relevant interest in relation to any expenditure for which the BBC would be entitled to an allowance (other than a balancing allowance) under Part 4 of the Capital Allowances Act (agricultural buildings allowances).

(2) Where this paragraph applies, then, as respects the transferee--

(a) his acquisition of the relevant interest shall be treated for the purposes of Part 4 of the Capital Allowances Act as a balancing event within subsection (2)(a) of section 381 (regardless of the lack of any election); and

(b) section 376(2) shall apply as if--

(i) the value to be assigned to RQE (residue of qualifying expenditure immediately after event) were the prescribed amount; and

(ii) the value to be assigned to B (remaining writing-down period) were such as the Secretary of state may by order specify.

(3) This paragraph shall not have effect in relation to any property if paragraph 12(3) has effect in relation to it. "

The Finance Act 1997 (c. 16)

Schedule 12 (leasing arrangements: finance leases and loans)

98 (1) For paragraph 11(3)(a) to (c) substitute--

" (a) Part 2 of the Capital Allowances Act (plant and machinery allowances),

(b) Part 5 of that Act (mineral extraction allowances), or

(2) In paragraph 11(8), for "the Capital Allowances Acts" substitute "the Capital Allowances Act" and omit "or its basis period".

(3) For paragraph 11(9)(a) and (b) substitute "section 40B(1) or 42 of the Finance (No. 2) Act 1992 (expenditure in connection with films etc.),".

(4) In paragraph 11(10), for "under section 68(8) of the Capital Allowances Act 1990" substitute "under section 40A(2) of the Finance (No. 2) Act 1992".

(5) In paragraph 11(13), for "section 154 of the Capital Allowances Act 1990" substitute "sections 537 to 542 of the Capital Allowances Act".

(6) For paragraph 11(14) substitute--

" (14) In sub-paragraph (8) above--

"the Capital Allowances Act" includes enactments which under the Taxes Act 1988 are to be treated as contained in the Capital Allowances Act;
"chargeable period" has the meaning given by section 6 of the Capital Allowances Act. " .

(7) Omit paragraph 11(15).

The Finance (No. 2) Act 1997 (c. 58)

Section 48 (films: relief for production or acquisition expenditure)

99 (1) In subsection (1), for "section 68(3) to (6) of the 1990 Act, section" substitute "section 40B or".

(2) For subsection (9) substitute--

" (9) Subsections (1) to (5) of section 5 of the Capital Allowances Act 2001 (when capital expenditure is incurred) apply for determining when for the purposes of this section any expenditure is incurred as they apply for determining when for the purposes of that Act any capital expenditure is incurred, but as if, in subsection (6) of that section, "at an earlier time" were substituted for "in an earlier chargeable period". "

The Finance Act 1998 (c. 36)

Section 117 (company tax returns, assessments and related matters)

100 (1) In subsection (1), at the end of paragraph (b), insert "and".

(2) For subsection (1)(d) and the word "and" before it substitute--

" and also make provision in relation to claims for allowances under the Capital Allowances Act. "

Section 118 (claims for income tax purposes)

101 In subsection (5)(b), for "the Capital Allowances Act 1990" substitute "the Capital Allowances Act".

Schedule 6 (adjustment on change of accounting basis)

102 In paragraph 4(4), for "the Capital Allowances Act 1990" substitute "the Capital Allowances Act".

Schedule 18 (company tax returns, assessments and related matters)

103 (1) For paragraph 78 (application of Part IX of the Schedule) substitute--

" 78 This Part of this Schedule applies to claims for allowances under the Capital Allowances Act which--

(a) are made for corporation tax purposes, and

(b) are required under section 3 of that Act to be included in a tax return. "

(2) For paragraph 79(1) (claim to be included in company tax return) substitute--

" 79 (1) A claim for capital allowances must be included in the claimant company's company tax return for the accounting period for which the claim is made. "

The Finance Act 1999 (c. 16)

Schedule 6 (tax treatment of receipts by way of reverse premium)

104 In paragraph 5, for "section 153 of the Capital Allowances Act 1990 (subsidies, contributions, etc.)" substitute "section 532 of the Capital Allowances Act (the general rule excluding contributions)".

The Greater London Authority Act 1999 (c. 29)

Schedule 33 (taxation)

105 (1) In paragraph 4(3), for "the Capital Allowances Acts" substitute "the Capital Allowances Act 2001".

(2) In paragraph 4(8), for "section 77 of the Capital Allowances Act 1990 (successions to trades: connected persons)" substitute "section 266 of the Capital Allowances Act 2001 (election where predecessor and successor are connected persons)".

(3) For paragraph 4(9) substitute--

" (9) Except as provided by this paragraph, a qualifying transfer in relation to which this paragraph applies shall be taken for the purposes of the Capital Allowances Act 2001 not to give rise to--

(a) any writing-down allowances, balancing allowances or balancing charges under Chapter 5 of Part 2 of that Act (plant and machinery allowances and charges),

(b) any disposal value being treated as received for the purposes of that Chapter,

(d) any writing-down allowances, balancing allowances or balancing charges under Part 3 of that Act (industrial buildings allowances).

(10) In this paragraph and paragraph 10 below "the Capital Allowances Act 2001" includes, where the context admits, enactments which under the Taxes Act 1988 are to be treated as contained in the Capital Allowances Act 2001. "

(4) In paragraph 10(3), for "the Capital Allowances Acts" substitute "the Capital Allowances Act 2001".

(5) In paragraph 10(9), for "section 77 of the Capital Allowances Act 1990 (successions to trades: connected persons)" substitute "section 266 of the Capital Allowances Act 2001 (election where predecessor and successor are connected persons)".

(6) For paragraph 10(10) substitute--

" (10) Except as provided by this paragraph, a relevant transfer in relation to which this paragraph applies shall be taken for the purposes of the Capital Allowances Act 2001 not to give rise to--

(a) any writing-down allowances, balancing allowances or balancing charges under Chapter 5 of Part 2 of that Act (plant and machinery allowances and charges),

(b) any disposal value being treated as received for the purposes of that Chapter,

(d) any writing-down allowances, balancing allowances or balancing charges under Part 3 of that Act (industrial buildings allowances). "

(7) In paragraph 11(2)--

(a) for "Part I of the Capital Allowances Act 1990" substitute "Part 3 of the Capital Allowances Act 2001", and

(b) for "Chapter VI of Part II" substitute "Chapter 14 of Part 2".

(8) In paragraph 11(4)--

(a) for "Part I of the Capital Allowances Act 1990" substitute "Part 3 of the Capital Allowances Act 2001",

(b) for "Chapter VI of Part II of the Capital Allowances Act 1990" substitute "Chapter 14 of Part 2 of the Capital Allowances Act 2001", and

(9) In paragraph 12(1)--

(a) omit paragraph (a),

(b) for "section 52(2)" substitute "section 176(2) or (3)", and

(10) In paragraph 12(2)--

(a) for "Part II of the Capital Allowances Act 1990" substitute "Part 2 of the Capital Allowances Act 2001", and

(b) for "section 26(1)(f)" substitute "item 7 in the Table in section 61(2)".

The Finance Act 2000 (c. 17)

Section 105 (corporation tax: use of currencies other than sterling)

106 In subsection (3), for "any of the items referred to in section 25(1) of the Capital Allowances Act 1990 which fall to be taken into account" substitute "any amount falls to be taken into account under Chapter 5 of Part 2 of the Capital Allowances Act as available qualifying expenditure".

Schedule 12 (provision of services through an intermediary)

107 In paragraph 7, in the paragraph headed "Step Four", for "section 27 of the Capital Allowances Act 1990 (plant and machinery: extension of allowances to employments etc.)" substitute "Part 2 of the Capital Allowances Act".

Schedule 22 (tonnage tax)

108 (1) In paragraph 41(4), for "section 82A of the Capital Allowances Act 1990" substitute "section 219 of the Capital Allowances Act 2001".

(2) For paragraph 69(2) substitute--

" (2) In this paragraph "unrelieved qualifying expenditure" has the same meaning as in Chapter 5 of Part 2 of the Capital Allowances Act 2001. "

(3) In paragraph 69(4), for paragraphs (a) and (b) substitute "section 130 of the Capital Allowances Act 2001 (notice postponing first-year or writing-down allowance)".

(4) For paragraph 70(2) substitute--

" (2) Sections 61(1)(e), 206(3) and 207 of the Capital Allowances Act 2001 (effect of use partly for qualifying activity and partly for other purposes) apply as follows--

(a) references to a qualifying activity shall be read as not including references to the tonnage tax trade, and

(b) references to purposes other than those of a qualifying activity shall be read as including references to the purposes of the tonnage tax trade. "

(5) In paragraph 72(1), for "sections 33A to 33F of the Capital Allowances Act 1990" substitute "sections 135 to 156 of the Capital Allowances Act 2001".

(6) For paragraph 73(2) substitute--

" (2) Sections 206(1), (2) and (4) and 207 of the Capital Allowances Act 2001 (operation of single asset pool for mixed use assets) apply as follows--

(a) references to a qualifying activity shall be read as not including references to the tonnage tax trade, and

(b) references to purposes other than those of a qualifying activity shall be read as including references to the purposes of the tonnage tax trade. "

(7) For paragraph 75(2) and (3) substitute--

" (2) If the asset was acquired before entry into tonnage tax, section 61(1)(e) of the Capital Allowances Act 2001 applies (disposal event if plant or machinery begins to be used wholly or partly for purposes other than those of the qualifying activity), but reading the reference in that provision to the qualifying activity as a reference to the tonnage tax trade.

(3) If the asset was acquired after entry into tonnage tax and begins to be used wholly or partly for the purposes of a qualifying activity carried on by the company, section 13 of the Capital Allowances Act 2001 (use for qualifying activity of plant or machinery provided for other purposes) applies as follows--

(a) references to purposes which were not those of any qualifying activity shall be read as including references to the purposes of the tonnage tax trade, and

(b) references to the qualifying activity carried on by him shall be read as not including references to the tonnage tax trade. "

(8) For paragraph 76(2) substitute--

" (2) Sections 61(1)(e), 206(3) and 207 of the Capital Allowances Act 2001 (effect of use partly for qualifying activity and partly for other purposes) apply as follows--

(a) references to a qualifying activity shall be read as not including references to the tonnage tax trade, and

(b) references to purposes other than those of a qualifying activity shall be read as including references to the purposes of the tonnage tax trade. "

(9) In paragraph 77(2), for "Part II of the Capital Allowances Act 1990" substitute "Part 2 of the Capital Allowances Act 2001"and for "references in that Part of that Act to a trade" substitute "references in that Part of that Act to a qualifying activity".

(10) In paragraph 80(2), for "section 24(6)(c)(i) to (iii) of the Capital Allowances Act 1990" substitute "section 61(1)(a) to (d) of the Capital Allowances Act 2001".

(11) In paragraph 80(4), for "Sections 33A to 33F of the Capital Allowances Act 1990" substitute "Sections 135 to 156 of the Capital Allowances Act 2001".

(12) For paragraph 82 substitute--

" 82 If any identifiable part of a building or structure is used for the purposes of a company's tonnage tax trade, that part is treated for the purposes of Part 3 of the Capital Allowances Act 2001 as used otherwise than as an industrial building. "

(13) In paragraph 83(1), for "disposal event occurs in relation to an industrial building or structure" substitute "balancing event occurs in relation to an industrial building".

(14) For the first sentence of paragraph 83(2) substitute--

" (2) A "balancing event" means an event by reason of which the company is required by Part 3 of the Capital Allowances Act 2001 to bring into account any proceeds. "

(15) For paragraph 83(3)(a) substitute--

" (a) the proceeds to be brought into account in respect of the industrial building are limited to the market value of the relevant interest when the company entered tonnage tax; and " .

(16) In paragraph 84(1), omit "or structure".

(17) In paragraph 84(2), for "The provisions of section 8(1) to (12) of the Capital Allowances Act 1990 (writing off of expenditure and meaning of "residue of expenditure")" substitute "Section 313 and Chapter 8 of Part 3 of the Capital Allowances Act 2001 (meaning of "residue of qualifying expenditure" and writing off qualifying expenditure)".

(18) In paragraph 85(1), for "Part II of the Capital Allowances Act 1990 (plant and machinery)" substitute "Part 2 of the Capital Allowances Act 2001 (plant and machinery allowances)".

(19) In paragraph 86(1), for "Part I of the Capital Allowances Act 1990 (industrial buildings)" substitute "Part 3 of the Capital Allowances Act 2001 (industrial buildings allowances)".

(20) For paragraph 87(1)(b) substitute--

" (b) the expenditure shall be disregarded for the purposes of calculating the person's entitlement to a writing-down allowance or balancing allowance or liability to a balancing charge. "

(21) In paragraph 88(1), for the definitions of "capital allowance" and "qualifying activity" substitute--

" "capital allowance" means any allowance under the Capital Allowances Act 2001;

"qualifying activity" means any activity in respect of which a person may be entitled to a capital allowance; " .

(22) For paragraph 88(2) and (3) substitute--

" (2) In this Part of this Schedule any reference to pooling or to single asset pools, class pools or the main pool shall be construed in accordance with sections 53 and 54 of the Capital Allowances Act 2001. "

(23) In paragraph 88(4), for "the Capital Allowances Act 1990" substitute "the Capital Allowances Act 2001".

(24) In paragraph 89(1), for "Part II of the Capital Allowances Act 1990" substitute "Part 2 of the Capital Allowances Act 2001".

(25) In paragraph 89(2), for "section 82A of the 1990 Act" substitute "section 219 of that Act".

(26) In paragraph 92(4), for "belonging to him for the purposes of Part II of the Capital Allowances Act 1990" substitute "owned by him for the purposes of Part 2 of the Capital Allowances Act 2001".

(27) In paragraph 94(4), for "Part II of the Capital Allowances Act 1990" substitute "Part 2 of the Capital Allowances Act 2001".

(28) In paragraph 96(2), for "the Capital Allowances Act 1990" substitute "the Capital Allowances Act 2001".

(29) In paragraph 100(2)(b)(ii), for "section 30(1)(a) or (c) of the Capital Allowances Act 1990" substitute "section 130 of the Capital Allowances Act 2001".

(30) In paragraph 100(3), for "the balance that would otherwise have been carried forward under Part II of the Capital Allowances Act 1990" substitute "the unrelieved qualifying expenditure that would otherwise have been carried forward under Chapter 5 of Part 2 of the Capital Allowances Act 2001".

(31) In paragraph 110(2), for "the provisions of Part II of the Capital Allowances Act 1990 apply" substitute "Part 2 of the Capital Allowances Act 2001 applies".

(32) In paragraph 110(4)--

(a) for "Part II of the Capital Allowances Act 1990" substitute "Part 2 of the Capital Allowances Act 2001", and

(b) for "section 24(6)(c)" substitute "section 61(1)".

(33) For paragraph 112(3) substitute--

" (3) In this paragraph "unrelieved qualifying expenditure" means the unrelieved qualifying expenditure that would otherwise have been carried forward under Chapter 5 of Part 2 of the Capital Allowances Act 2001. "

(34) In paragraph 112(5), for paragraphs (a) and (b) substitute "section 130 of the Capital Allowances Act 2001 (notice postponing first-year or writing-down allowance)".

(35) In paragraph 113(2), for "Part II of the Capital Allowances Act 1990" substitute "Part 2 of the Capital Allowances Act 2001".

(36) In paragraph 135--

(a) for "Part II of the Capital Allowances Act 1990 (plant and machinery)" substitute "Part 2 of the Capital Allowances Act 2001 (plant and machinery allowances)", and

(b) for "unrelieved qualifying expenditure under Part I of that Act (industrial buildings)" substitute "the residue of qualifying expenditure under Part 3 of that Act (industrial buildings allowances)".

The Transport Act 2000 (c. 38)

Schedule 26 (transfers: tax)

109 (1) In paragraph 1(1)--

(a) omit the definition of "the 1990 Act",

(b) for the definition of "the Capital Allowances Acts" substitute--

" "the Capital Allowances Act" means the Capital Allowances Act 2001 and includes, where the context admits, enactments which under the 1988 Act are to be treated as contained in the Capital Allowances Act 2001, " , and

(c) in the definition of "fixture", for "Chapter VI of Part II of the 1990 Act" substitute "Chapter 14 of Part 2 of the Capital Allowances Act".

(2) In paragraph 1(3), for "the Capital Allowances Acts" substitute "the Capital Allowances Act".

(3) In paragraph 5(1)(b), for "the Capital Allowances Acts" substitute "the Capital Allowances Act" and for "Part II of the 1990 Act" substitute "Part 2 of that Act".

(4) In paragraph 5(1)(c), for "those Acts" substitute "that Act".

(5) In paragraph 5(2)--

(a) for "those Acts" substitute "the Capital Allowances Act", and

(b) for "section 54 of the 1990 Act" substitute "sections 181(1) and 182(1) of that Act".

(6) In paragraph 6, for "Part II of the 1990 Act" substitute "Part 2 of the Capital Allowances Act".

(7) In paragraph 13(1) and (2)(a), for "the Capital Allowances Acts" substitute "the Capital Allowances Act".

(8) In paragraph 14(1)(c), for "the Capital Allowances Acts" substitute "the Capital Allowances Act".

(9) In paragraph 14(1)(d), for "those Acts" substitute "that Act".

(10) In paragraph 14(2)--

(a) for "those Acts" substitute "the Capital Allowances Act",

(b) in paragraph (a), for "section 26(1) or 59 of the 1990 Act" substitute "section 61(2) to (4), 72(3) to (5), 171, 196 or 423 of that Act", and

(11) In paragraph 15, for "Part II of the 1990 Act" substitute "Part 2 of the Capital Allowances Act".

(12) In paragraph 21(1), for "Part I of the 1990 Act" substitute "Part 3 of the Capital Allowances Act".

(13) In paragraph 21(4), for "Sections 157 and 158 of that Act (sales between connected persons or without change of control)" substitute "Sections 567 to 570 of that Act (sales treated as being for alternative amount)".

(14) In paragraph 21(5)--

(a) for "machinery or plant" (in both places) substitute "plant or machinery",

(b) for "the Capital Allowances Acts" substitute "the Capital Allowances Act", and

(c) for "section 24 of the 1990 Act (balancing adjustments)" substitute "section 60 of that Act (meaning of "disposal value" and "disposal event")".

(15) In paragraph 21(6), for "section 26(2) and (3) of that Act (disposal value of machinery or plant not to exceed capital expenditure incurred on its provision)" substitute "section 62 of that Act (general limit on amount of disposal value)".

(16) In paragraph 21(7), for "a fixture is treated by section 57(2) of the 1990 Act as ceasing to belong to a person" substitute "a person is treated by section 188 of the Capital Allowances Act as ceasing to own a fixture".

(17) In paragraph 21(8)--

(a) for "section 24 of that Act is, subject to section 26(2) and (3) of that Act" substitute "section 60 of the Capital Allowances Act is, subject to section 62 of that Act", and

(b) for "Part II of that Act" substitute "Part 2 of that Act".

(18) In paragraph 21(9), for "the Capital Allowances Acts" substitute "the Capital Allowances Act".

(19) In paragraph 27(1), for "Part I of the 1990 Act" substitute "Part 3 of the Capital Allowances Act".

(20) In paragraph 27(4), for "Sections 157 and 158 of that Act (sales between connected persons or without change of control)" substitute "Sections 567 to 570 of that Act (sales treated as being for alternative amount)".

(21) In paragraph 27(5)--

(a) for "machinery or plant", in both places where it occurs, substitute "plant or machinery",

(b) for "the Capital Allowances Acts" substitute "the Capital Allowances Act", and

(c) for "section 24 of the 1990 Act (balancing adjustments)" substitute "section 60 of that Act (meaning of "disposal value" and "disposal event")".

(22) In paragraph 27(6), for "section 26(2) and (3) of that Act (disposal value of machinery or plant not to exceed capital expenditure incurred on its provision)" substitute "section 62 of that Act (general limit on amount of disposal value)".

(23) In paragraph 27(7), for "a fixture is treated by section 57(2) of the 1990 Act as ceasing to belong to a person" substitute "a person is treated by section 188 of the Capital Allowances Act as ceasing to own a fixture".

(24) In paragraph 27(8)--

(a) for "section 24 of that Act is, subject to section 26(2) and (3) of that Act" substitute "section 60 of the Capital Allowances Act is, subject to section 62 of that Act", and

(b) for "Part II of that Act" substitute "Part 2 of that Act"

(25) In paragraph 27(9), for "the Capital Allowances Acts" substitute "the Capital Allowances Act".

(26) In paragraph 34(1), for "Part I of the 1990 Act" substitute "Part 3 of the Capital Allowances Act".

(27) In paragraph 34(5), for "Sections 157 and 158 of that Act (sales between connected persons or without change of control)" substitute "Sections 567 to 570 of that Act (sales treated as being for alternative amount)".

(28) In paragraph 34(6)--

(a) for "machinery or plant" (in both places) substitute "plant or machinery",

(b) for "the Capital Allowances Acts" substitute "the Capital Allowances Act", and

(c) for "section 24 of the 1990 Act (balancing adjustments)" substitute "sections 60 of that Act (meaning of "disposal value" and "disposal event")".

(29) In paragraph 34(7), for "section 26(2) and (3) of that Act (disposal value of machinery or plant not to exceed capital expenditure incurred on its provision)" substitute "section 62 of that Act (general limit on amount of disposal value)".

(30) In paragraph 34(8), for "a fixture is treated by section 57(2) of the 1990 Act as ceasing to belong to a person" substitute "a person is treated by section 188 of the Capital Allowances Act as ceasing to own a fixture".

(31) In paragraph 34(9)--

(a) for "section 24 of that Act is, subject to section 26(2) and (3) of that Act" substitute "section 60 of the Capital Allowances Act is, subject to section 62 of that Act", and

(b) for "Part II of that Act" substitute "Part 2 of that Act".

(32) In paragraph 34(10), for "the Capital Allowances Acts" substitute "the Capital Allowances Act".

Section 579

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