Capital Allowances Act 2001

[F1 358 Requisitioned land U.K.

(1) This section applies in relation to any period (“period of requisition”) for which compensation—

(a) is payable, or

(b) but for any agreement would be payable,

under section 2(1)(a) of the Compensation (Defence) Act 1939 (c. 75).

(2) This Part has effect in relation to the period of requisition as if the Crown had been in possession of the land for that period under a lease.

(3) If a person carrying on a trade is authorised by the Crown to occupy the land (or part of it) during the whole or a part of the period of requisition, this Part has effect as if the Crown had granted a sub-lease of the land (or that part of it) to the occupier.

(4) If subsection (2) or (3) applies, references in this Part to—

(a) the surrender of a leasehold interest,

(b) a leasehold interest being extinguished on the person entitled to it acquiring the interest which is reversionary on it, or

(c) the merger of a leasehold interest,

apply (with the necessary modifications) in relation to the lease under subsection (2) or the sub-lease under subsection (3).

(5) If the person who (subject to the rights of the Crown) is entitled to possession of the land pays any sum to—

(a) the Crown, or

(b) if subsection (3) applies, the occupier,

in respect of a building constructed on the land during the period of requisition, the sum is to be treated for the purposes of this Part as paid in consideration of the surrender of the lease or sub-lease (as the case may be).]

Textual Amendments

F1 Pt. 3 omitted (with effect in relation to chargeable periods beginning on or after 1.4.2011 for corporation tax purposes and 6.4.2011 for income tax purposes in accordance with ss. 84(1)(3)(4), 85, 86 of the amending Act) by virtue of Finance Act 2008 (c. 9), s. 84(2) (with Sch. 27)