SCHEDULES
SCHEDULE 10Sale of lessor companies etc: reforms
Paragraph 17
4
1
Paragraph 17 (meaning of “PM” in paragraph 16) is amended as follows.
2
In sub-paragraph (7)(b), for “acquires any plant or machinery directly or indirectly from a person who is connected with the company” substitute “
acquired any plant or machinery in circumstances in which this paragraph applies
”
.
3
For sub-paragraph (8) substitute—
8
Paragraph (b) of sub-paragraph (7) above applies if—
a
the relevant day falls on or after 22 March 2006,
b
the plant or machinery was acquired directly or indirectly from a person who was connected with the company when the acquisition took place, and
c
either the acquisition took place on or after 5 December 2005 or the person from whom the plant or machinery was so acquired was also connected with the company on that date.