Part 5

Mineral extraction allowances
Chapter 1

Introduction

Meaning of “mineral exploration and access”
396
1
In this Part “mineral exploration and access” means—
a
searching for or discovering and testing the mineral deposits of a source, or
b
winning access to such deposits.
2
Expenditure on seeking planning permission necessary to enable—
a
mineral exploration and access to be undertaken at any place, or
b
any mineral deposits to be worked,
is treated as expenditure on mineral exploration and access and not as expenditure on acquiring a mineral asset.
3
“Seeking planning permission” includes pursuing an appeal against a refusal to grant planning permission.
S. 45H(2) modified (with effect in accordance with s. 167 of the amending Act) by Finance Act 2003 (c. 14) , Sch. 30 para. 7
Words in s. 396(2) substituted (with effect in accordance with s. 68(4) of the amending Act) by Finance Act 2014 (c. 26), s. 68(2)