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Capital Allowances Act 2001

Section 192: Cessation of ownership of equipment lessor

686.This section is based on part of section 58(1) and (5) of CAA 1990. It provides for cases in which an equipment lessor is to be treated as ceasing to own the fixture.

687.This section applies if either:

  • the equipment lessor assigns the rights under the equipment lease; or

  • the equipment lessee’s financial obligations are discharged.

688.Subsection (3) provides that references to “equipment lessee” include any person in whom the financial obligations under the equipment lease may have been vested.

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