SCHEDULES
SCHEDULE 21 CAPITAL ALLOWANCES: MINOR AMENDMENTS
2Fixtures: purchasers of land and incoming lessees
1
In section 181 of that Act (purchaser of land giving consideration for fixture), for subsection (2) substitute—
2
Subsection (1) does not apply, and is to be treated as never having applied, if, immediately after the time of the acquisition, a person has a prior right in relation to the fixture.
2
In section 181(3) of that Act—
a
for “subsection (2)(b), the person holding the other interest” substitute “
subsection (2), a person
”
; and
b
for “subsection (2)(a)” substitute “
subsection (2)
”
.
3
In section 182 of that Act (purchaser of land discharging obligations of equipment lessee), for subsections (2) and (3) substitute—
2
Subsection (1) does not apply, and is to be treated as never having applied, if, immediately after the time of the acquisition, a person has a prior right in relation to the fixture.
3
Section 181(3) (test for whether person has a prior right) applies for the purposes of subsection (2).
4
In section 184 of that Act (incoming lessee where lessor not entitled to allowances), for subsections (2) and (3) substitute—
2
Subsection (1) does not apply, and is to be treated as never having applied, if, immediately after the time when the lease is granted, a person has a prior right in relation to the fixture.
3
Section 181(3) (test for whether person has a prior right) applies for the purposes of subsection (2).