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Finance Act 1963

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This is the original version (as it was originally enacted).

40Contributions to expenditure for treatment of trade effluents

(1)Where a sewerage authority in the United Kingdom incurs expenditure on the provision of an asset to be used in the treatment of trade effluents, then, in relation to any contribution of a capital sum made to that expenditure, subsection (3) of section 332 of the Act of 1952 (by virtue of which, in a case where the person receiving a capital sum would, apart from subsection (1) of that section, qualify for capital allowances in respect of his expenditure, the contributor is treated for the purpose of investment, initial and annual allowances as if his contribution had been expenditure on an asset provided for the purposes of his trade) shall apply as if such allowances fell to be made to the sewerage authority in respect of the expenditure as apart from subsection (1) of that section would fall to be made if the asset were to be so used for the purposes of a trade carried on by the sewerage authority.

(2)In this section—

  • " sewerage authority " means a public body having power under any enactment relating to the public health to construct and maintain sewers ;

  • " trade effluents" means liquid or other matter discharged into public sewers from premises occupied for the purposes of a trade.

(3)This section shall apply only where the contribution was made, and the expenditure in question was incurred, after the 31st May 1963.

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