Finance Act 2003

2(1)In paragraph 41(4) of that Schedule (the requirement not to enter into tax avoidance arrangements: exemption for finance leases)—U.K.

(a)in the first sentence omit “finance”;

(b)for the second sentence substitute— “ In this sub-paragraph “lease”, and “lessor” in relation to a lease, have the meaning given by paragraph 89(2). ”.

(2)In paragraph 147 (index of defined expressions)—

(a)omit the entry for “finance lease (and lessor and lessee) (in Part X)”;

(b)insert at the appropriate place—

lease (and lessor and lessee) (in Part X)paragraph 89(2).