SCHEDULES
SCHEDULE 8Long funding leases of plant or machinery
Part 4Commencement and transitional provisions
Combined assets and constituent assets
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1
A “combined asset” is an asset which meets the conditions in sub-paragraph (2).
2
The conditions are that—
a
the asset is for use individually,
b
it consists of two or more items of plant or machinery (“constituent assets”),
c
each of the constituent assets is constructed with a view to its use in conjunction with the others as a single asset (namely, the combined asset).
3
Plant or machinery that can be used individually is not a constituent asset just because—
a
it is one of a number of assets of the same or a similar description,
b
each of those assets is intended for use individually, and
c
the use individually of those assets is to be co-ordinated to any extent.
4
This paragraph has effect for the purposes of this Part.