Finance Act 2006 (c. 25)

SCHEDULES

SCHEDULE 8 U.K. Long funding leases of plant or machinery

Part 4 U.K. Commencement and transitional provisions

When a lease is “finalised” U.K.

23 (1) For the purposes of this Part, a lease is “finalised” on the earliest day on which the following conditions are met. U.K.

(2) Condition 1 is that there is a contract in writing for the lease between the lessor and the lessee.

(3) Condition 2 is that either—

(a) the contract is unconditional, or

(b) if it is conditional, the conditions have been met.

(4) Condition 3 is that no terms remain to be agreed.