Finance Act, 1994

Amendment of section 27 (designated areas for urban renewal relief) of Finance Act, 1987.

36.Section 27 (1) of the Finance Act, 1987 , is hereby amended—

(a) in paragraph (a) (i), by the substitution of “the definition of ‘designated area’ (apart from ‘the Custom House Docks Area’)” for “the definition of ‘designated area’”,

(b) in paragraph (a) (ii), by the substitution of “the 31st day of July, 1994” for “the 24th day of January, 1997” (inserted by section 30 of the Finance Act, 1992 ),

(c) by the substitution of the following paragraph for paragraph (b):

“(b) (i) the definition of ‘the Custom House Docks Area’ contained in the said section 41 shall include such area or areas described in the order which, but for the order, would not be included in that definition,

(ii) as respects any such area so described in the order, the definition of ‘the specified period’ in the said section 41 shall be construed as a reference to such period as shall be specified in the order in relation to that area: provided that no such period specified in the order shall commence prior to the 26th day of January, 1994, or end after the 24th day of January, 1997,”,


(d) by the substitution of “the said definition of ‘qualifying period’ or ‘the specified period’, as the case may be,” for “the said definition of ‘qualifying period’”.