54.This section is based on section 159 of CAA 1990. It determines the time when capital expenditure is incurred.
55.Section 159(3) to (6) of CAA 1990 is expressed in terms of the time an obligation to pay “becomes” unconditional. This section is expressed in terms of when there is first an unconditional obligation to pay. This responds to the question “what if the obligation was never conditional?” See Note 3 in Annex 2.
Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
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