for “machinery or plant for the purposes of its trade, that machinery or plant shall be assumed, for the purposes of Part II of the 1990 Act” substitute “ plant or machinery for the purposes of its trade, that plant or machinery shall be assumed, for the purposes of Part 2 of the Capital Allowances Act ”, and

for “section 81 of that Act (expenditure treated as equivalent to market value at the time the machinery or plant is brought into use)” substitute “ section 13 of that Act (use for qualifying activity of plant or machinery provided for other purposes) ”.

for “Capital Allowances Act 1990” substitute “ Capital Allowances Act ”;

for “machinery or plant” (in each place) substitute “ plant or machinery ”; and

for “section 24 of that Act” substitute “ section 60 of that Act ”.

for “machinery or plant” (in each place) substitute “ plant or machinery ”,

for “Part II of the 1990 Act, and neither section 79 (assets used only partly for trade purposes) nor section 80 (wear and tear subsidies) of that Act” substitute “ Part 2 of the Capital Allowances Act, and neither Chapter 15 (assets provided or used only partly for qualifying activity) nor Chapter 16 (partial depreciation subsidies) of that Part ”, and

for “capital expenditure” substitute “ qualifying expenditure ”.

for “section 137 of the 1990 Act” substitute “ section 441 of the Capital Allowances Act ”, and

omit the definition of “basis year” and the word “and” before it.

for “which had not in fact been allowed or become allowable” substitute “ in respect of which the person had not in fact been entitled to an allowance ”,

for “section 137 of the 1990 Act” substitute “ section 441 of the Capital Allowances Act ”, and

omit paragraph (b) and the word “and” before it.

for “subsections (3) to (6) of section 68 of the 1990 Act” substitute “ section 40B above ”, and

for “subsection (9) of that section” substitute “ section 40D above ”.

for “section 11 of the Capital Allowances Act 1990 (long leases)” substitute “ section 290 of the Capital Allowances Act 2001 (election to treat grant of lease exceeding 50 years as sale) ”,

for “long lease within the meaning” substitute “ lease which satisfies the condition in subsection (1)(c) ”,

in paragraph (a), for “section 8” substitute “ Chapter 8 of Part 3 ”,

in paragraph (b), for “section 11(6)(a)” substitute “ section 291(1) ”,

for “sections 157 and 158” substitute “ sections 567 to 570 ”, and

for “section 11” substitute “ section 290 ”.

for “paragraphs (a) and (b) of subsection (1) of section 55 of the Capital Allowances Act 1990 (expenditure incurred by incoming lessee: transfer of allowances)” substitute “ section 183(1)(a) and (b) of the Capital Allowances Act (incoming lessee where lessor entitled to allowances) ”,

in paragraph (a) for “Part II of that Act” substitute “ Part 2 of that Act ”,

after that paragraph insert “ and ”, and

omit paragraph (c) and the word “and” before it.

omit the definition of “the Allowances Act”,

after the definition of “the Board” insert—

and

in the definition of “fixture”, for “Chapter VI of Part II of the Allowances Act” substitute “ Chapter 14 of Part 2 of the Capital Allowances Act ”.

in paragraph (a), for “subsection (6) of section 21 of the Allowances Act (transfer of industrial buildings or structures to be deemed to be sale at market price)” substitute “ section 573 of the Capital Allowances Act (transfers treated as sales) as it applies for the purposes of Part 3 of that Act ”,

in paragraph (b), for “that subsection” substitute “ that section ” and for “the Capital Allowances Acts” substitute “ that Act ”, and

for “by virtue of that subsection or any other provision of those Acts), sections 157 and 158 of the Allowances Act” substitute “ under that section or any other provision of the Capital Allowances Act), sections 567 to 570 of that Act ”.

for “the Capital Allowances Acts” substitute “ the Capital Allowances Act ”,

for “those Acts” substitute “ that Act ”,

in paragraph (a), for “section 26(1) or 59 of the Allowances Act” substitute “ section 61(2) to (4), 72(3) to (5), 171, 196 or 423 of the Capital Allowances Act ”, and

in paragraph (c), for “section 54” substitute “ sections 181(1) and 182(1) ”.

for “building or structure” (in both places) substitute “ building ”,

for “Part I of the Allowances Act” substitute “ Part 3 of the Capital Allowances Act ”, and

for “sections 157 and 158” substitute “ sections 567 to 570 ”.

for “machinery or plant” (in the first and second places) substitute “ plant or machinery ”,

for “section 24 of the Allowances Act (balancing adjustments) shall, subject to section 26(2) and (3) of that Act (disposal value of machinery or plant not to exceed capital expenditure incurred on its provision)” substitute “ section 55 of the Capital Allowances Act (determination of entitlement or liability) shall, subject to section 62 of that Act (general limit on amount of disposal value) ”, and

for “the Capital Allowances Acts” substitute “ the Capital Allowances Act ”.

for “section 57(2) of the Allowances Act” substitute “ section 188 of the Capital Allowances Act ”,

for “section 24 of that Act shall, subject to section 26(2) and (3)” substitute “ section 55 of that Act shall, subject to section 62 ”,

in paragraph (a), for “Part II” substitute “ Part 2 ”, and

for “the Capital Allowances Acts” substitute “ the Capital Allowances Act ”.

omit the definition of “the 1990 Act”,

for “section 4 of the 1990 Act” substitute “ Chapter 7 of Part 3 of the Capital Allowances Act 2001 ”, and

for “section 20 of the 1990 Act” substitute “ Chapter 3 of Part 3 of the Capital Allowances Act 2001 ”.

after the definition of “the 1988 Act” insert—

and

in the definition of “fixture”, for “Chapter VI of Part II of the 1990 Act” substitute “ Chapter 14 of Part 2 of the Capital Allowances Act ”.

in paragraph (a), for “subsection (6) of section 21 of the 1990 Act (transfer of industrial buildings or structures to be deemed to be sale at market price)” substitute “ section 573 of the Capital Allowances Act (transfers treated as sales) as it applies for the purposes of Part 3 of that Act ”,

in paragraph (b), for “that subsection (6)” substitute “ that section ” and for “the Capital Allowances Acts” substitute “ that Act ”,

for “that subsection” substitute “ that section ”, and

for “those Acts), sections 157 and 158 of the 1990 Act” substitute “ that Act), sections 567 to 570 of that Act ”.

for “the Capital Allowances Acts” substitute “ the Capital Allowances Act ”,

for “those Acts” substitute “ that Act ”,

in paragraph (a), for “section 26(1) or 59 of the 1990 Act” substitute “ section 61(2) to (4), 72(3) to (5), 171, 196 or 423 of the Capital Allowances Act ”, and

in paragraph (c), for “section 54” substitute “ sections 181(1) and 182(1) ”.

in paragraph (a), for “Part V of the 1990 Act (agricultural buildings etc.)” substitute “ Part 4 of the Capital Allowances Act (agricultural buildings allowances) ” and for “section 129(2)” substitute “ section 382 ”,

in paragraph (b), for “the Capital Allowances Acts” substitute “ that Act ”, and

for “section 128(2) of that Act (calculation of balancing allowance or charge)” substitute “ section 385 of the Capital Allowances Act (calculation of balancing adjustment) ”.

in paragraph (a), for “relevant event for the purposes of section 138 of the 1990 Act (assets representing allowable scientific research expenditure ceasing to belong to traders)” substitute “ disposal event for the purposes of Chapter 3 of Part 6 of the Capital Allowances Act (research and development allowances: allowances and charges) ”,

in paragraph (b), for “subsection (2) of that section” substitute “ that Chapter ”, and

for “that section” substitute “ that Chapter ”.

for “the 1990 Act” substitute “ the Capital Allowances Act ”, and

for “section 157(1)(a)” substitute “ section 568(1)(a) ”.

for “Chapter VI of Part II of the 1990 Act” substitute “ Chapter 14 of Part 2 of the Capital Allowances Act ”,

for “the Capital Allowances Acts” substitute “ the Capital Allowances Act ”,

for “they did” substitute “ it did ”, and

for “those Acts” substitute “ that Act ”.

for “section 61 of the 1990 Act” substitute “ section 70 of the Capital Allowances Act ”,

for “the Capital Allowances Acts” substitute “ the Capital Allowances Act ”,

for “machinery or plant” (in each place) substitute “ plant or machinery ”.

for the heading substitute “ Plant and machinery ”, and

for “Part II of the Capital Allowances Act 1990 (capital allowances in respect of machinery and plant)” substitute “ Part 2 of the Capital Allowances Act (plant and machinery allowances) ”.