Finance Act 2003

2 (1) In paragraph 41(4) of that Schedule (the requirement not to enter into tax avoidance arrangements: exemption for finance leases)— U.K.

(a) in the first sentence omit “finance”;

(b) for the second sentence substitute— “ In this sub-paragraph “lease”, and “lessor” in relation to a lease, have the meaning given by paragraph 89(2). ”.

(2) In paragraph 147 (index of defined expressions)—

(a) omit the entry for “finance lease (and lessor and lessee) (in Part X)”;

(b) insert at the appropriate place—

“lease (and lessor and lessee) (in Part X)

paragraph 89(2)”.