422 Use of asset otherwise than for permitted development etc.U.K.
(1)This section applies if—
(a)a person has acquired a mineral asset,
(b)at any time after the acquisition, the asset begins to be used (by him or another person) in a way which constitutes development, and
(c)the development is not—
(i)existing permitted development, or
(ii)development for the purposes of a mineral extraction trade carried on by the person.
(2)The person is required to bring the disposal value of the mineral asset into account for the chargeable period in which the use begins.
(3)Development is existing permitted development if at the time of the acquisition—
(a)it has been, or had begun to be, lawfully carried out, or
(b)it could be lawfully carried out under planning permission granted by a general development order.
(4)In applying subsection (3) in relation to land outside the United Kingdom—
(a)whether, at the time of the acquisition, development has been, or had begun to be, lawfully carried out is to be determined according to the law of the territory in which the land is situated, and
(b)whether, at that time, development could be lawfully carried out under planning permission granted by a general development order is to be determined as if the land were in England.