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Part 3Industrial buildings allowances

Chapter 7Balancing adjustments

Meaning of “the relevant period of ownership” etc.

321The relevant period of ownership

The relevant period of ownership is the period beginning—

(a)with the day on which the building was first used for any purpose, or

(b)if the relevant interest has been sold after that day, with the day following that on which the sale (or the last such sale) occurred,

and ending with the day on which the balancing event occurs.