Regulation 12
SCHEDULE 4EXPENDITURE OF A CAPITAL NATURE
1. Expenditure of a capital nature is expenditure on, or in connection with,—
(a)the acquisition, reclamation, improvement or laying out of any land;
(b)the acquisition, construction, enlargement, improvement, repair or demolition of any building, wall, fence or other structure, or any playground or other hard-standing;
(c)the laying out of playing fields and other facilities for social activities and physical recreation; or
(d)the provision of any furniture, plant, machinery, apparatus, vehicles, vessels and equipment;
used or intended to be used for the purposes of a school.
2. In paragraph 1 above “building” includes any fixtures and fittings affixed to a building.