Finance (No. 2) Act 1992

43 Interpretation of sections 41 and 42. U.K.

(1) In sections [F1 40A to 42] above and this section—

• “expenditure of a revenue nature” has the meaning given in [F2 section 40A(4) above],

• [F3 “ITTOIA 2005” means the Income Tax (Trading and Other Income) Act 2005,]

• [F4 “film” is to be construed in accordance with paragraph 1 of Schedule 1 to the Films Act 1985;]

• F5 ...

• F5 ...

• F5 ...

• [F4 “original master version”, in relation to a film, means the original master negative, tape or disc (but see subsections (2) and (2A));]

• “qualifying disc” means [F6 the original master] disc of a film certified by the Secretary of State under Schedule 1 to the M1 Films Act 1985 as a qualifying disc for the purposes of [F7 section 40D above],

• “qualifying film” means [F6 the original master] negative of a film certified by the Secretary of State under Schedule 1 to the M2 Films Act 1985 as a qualifying film for the purposes of [F7 section 40D above],

• “qualifying tape” means [F6 the original master] tape of a film certified by the Secretary of State under Schedule 1 to the M3 Films Act 1985 as a qualifying tape for the purposes of section 68 of the 1990 Act,

• “relevant period” has the meaning given in [F8 section 40B(3) above], and

• F9 . . ..

[F10 (2) In sections 40A to 42 and this section, references to the original master version of a film include the original master version of the film soundtrack (if any).

(2A) In those provisions, references to the original master version also include any rights in the original master version that are held or acquired with it.]

(3) For the purposes of sections 41 and 42 above a film is completed—

(a) at the time when it is first in a form in which it can reasonably be regarded as ready for copies of it to be made and distributed for presentation to the general public, F11 . . .

F11 (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1 Words in s. 43(1) substituted (22.3.2001 with effect as mentioned s. 579(1) of the amending Act) by 2001 c. 2, ss. 578, 579(1), Sch. 2 para. 85(a)

F2 Words in s. 43(1) substituted (22.3.2001 with effect as mentioned s. 579(1) of the amending Act) by 2001 c. 2, ss. 578, 579(1), Sch. 2 para. 85(b)

F3 Words in s. 43(1) inserted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 459 (with Sch. 2)

F4 Words in s. 43(1) inserted (retrospective to 2.12.2004) by Finance Act 2005 (c. 7), Sch. 3 paras. 24(2)(a), 31(3)

F5 Words in s. 43(1) repealed (retrospective to 2.12.2004) by Finance Act 2005 (c. 7), Sch. 3 paras. 24(2)(b), 31(3), Sch. 11 Pt. 2(3)

F6 Words in s. 43(1) substituted (retrospective to 2.12.2004) by Finance Act 2005 (c. 7), Sch. 3 paras. 24(2)(c), 31(3)

F7 Words in s. 43(1) substituted (22.3.2001 with effect as mentioned s. 579(1) of the amending Act) by 2001 c. 2, ss. 578, 579(1), Sch. 2 para. 85(c)

F8 Words in s. 43(1) substituted (22.3.2001 with effect as mentioned s. 579(1) of the amending Act) by 2001 c. 2, ss. 578, 579(1), Sch. 2 para. 85(d)

F9 S. 43(1): definition of

“the 1990 Act”

repealed (22.3.2001 with effect as mentioned s. 579(1) of the amending Act) by 2001 c. 2, ss. 578, 579(1), 580, Sch. 2 para. 85(e); Sch. 4

F10 S. 43(2)(2A) substituted for s. 43(2) (retrospective to 2.12.2004) by Finance Act 2005 (c. 7), Sch. 3 paras. 24(3), 31(3)

F11 S. 43(3)(b) and the preceding word “or" repealed (28.7.2000 with application as mentioned in s. 113(5)(6) of the amending Act) by 2000 c. 17, ss. 113(4)(b), 156, Sch. 40 Pt. II(18)

Modifications etc. (not altering text)

C1 S. 43(3) applied with modifications (31.7.1997) by 1997 c. 58, s. 48(8)(11)

Marginal Citations

M1 1985 c. 21.

M2 1985 c. 21.

M3 1985 c. 21.