Capital Allowances Act 2001

Whether a company is a member of large or medium-sized group

49 (1) This paragraph applies in relation to any expenditure incurred before 12th May 1998, and for the purpose of determining—

(a) whether expenditure incurred under a contract entered into before that date is first-year qualifying expenditure under section 44, or

(b) whether expenditure is first-year qualifying expenditure under paragraph 46 or 48.

(2) Section 49 applies with the substitution in subsection (2) of “parent company” for “parent undertaking” and the omission of the words in brackets in subsection (5).

(3) In section 49 as it so applies “parent company”—

(a) except in the case of a company formed and registered in Northern Ireland, has the same meaning as in Part VII of the Companies Act 1985 (c. 6);

(b) in the case of such a company, has the same meaning as in Part VIII of the Companies (Northern Ireland) Order 1986 (S.I.1986/1032 (N.I.6)).