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Leasing Arrangements: Finance Leases and Loans

Part of Schedule 11 – in the House of Commons at 8:45 pm on 11 March 1997.

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Photo of Mr Geoffrey Lofthouse Mr Geoffrey Lofthouse , Pontefract and Castleford 8:45, 11 March 1997

With this, it will be convenient to discuss the following amendments: No. 15, in page 160, line 24, leave out from 'Act)' to end of line 27 and insert 'the requirements of either sub-paragraph (IA) below or sub-paragraph (1B) below are satisfied.

  1. (IA) The requirements of this sub-paragraph are that—
    1. (a) a lease of an asset is or has been granted;
    2. (b) in the case of the lease, the conditions in paragraph 3 below are or have been satisfied at some time in a period of account of the current lessor; and
    3. (c) the lessee is not a relevant taxpayer