Finance Act, 1993

Amendment of section 51 (application of certain allowances in relation to certain areas and certain expenditure) of Finance Act, 1988.

33.—(1) Section 51 of the Finance Act, 1988 , is hereby amended, in subsection (1), by the substitution of the following paragraph for paragraph (a):

“(a) machinery or plant or an industrial building provided for use for the purposes of trading operations which are relevant trading operations within the meaning of section 39A (inserted by the Finance Act, 1981 ) or section 39B (inserted by the Finance Act, 1987 ) of the Finance Act, 1980 , but excluding machinery or plant or an industrial building provided by a lessor to a lessee other than in the course of the carrying on by the lessor of the said relevant trading operations;”.

(2) Subsection (1) shall apply and have effect in relation to capital expenditure which is incurred on the provision of machinery or plant or an industrial building on or after the 6th day of May, 1993.