Part 2Plant and machinery allowances
Chapter 12Ships
Pooling and postponement of allowances
128Expenditure which is not to be allocated to single ship pool
(1)
The expenditure is not to be allocated to a single ship pool if the ship is provided for leasing unless—
(a)
the ship is not used for overseas leasing at any time in the designated period, or if it is, is used only for protected leasing, and
(b)
it appears that the ship will be used for a qualifying purpose in the designated period and will not be used for any other purpose at any time in that period.
(2)
The expenditure is not to be allocated to a single ship pool if the qualifying activity for the purposes of which the ship is provided is special leasing of plant or machinery.
(3)
In subsection (1) “leasing”, “overseas leasing”, “protected leasing”, “qualifying purpose” and “designated period” have the same meaning as in Chapter 11 (overseas leasing).