Finance Act, 1959

Special provision for certain capital expenditure.

49.—Where within one year before the operative date a person has incurred capital expenditure on the purchase of patent rights for the purposes of a trade carried on or about to be carried on by him and has not sold any part of the said rights before the operative date, he shall be deemed for the purposes of sections 47 and 48 of this Act to have incurred the said expenditure on the operative date.