Part II Income Tax, Corporation Tax and Capital Gains Tax
Chapter I General
Films
43 Interpretation of sections 41 and 42.
1
In sections F140A to 42 above and this section—
“expenditure of a revenue nature” has the meaning given in F2section 40A(4) above,
“master disc”, in relation to a film, means the original master film disc or the original master audio disc of the film,
“master negative”, in relation to a film, means the original master negative of the film and its soundtrack (if any),
“master tape”, in relation to a film, means the original master film tape or the original master audio tape of the film,
“qualifying disc” means a master disc of a film certified by the Secretary of State under Schedule 1 to the M1Films Act 1985 as a qualifying disc for the purposes of F3section 40D above,
“qualifying film” means a master negative of a film certified by the Secretary of State under Schedule 1 to the M2Films Act 1985 as a qualifying film for the purposes of F3section 40D above,
“qualifying tape” means a master tape of a film certified by the Secretary of State under Schedule 1 to the M3Films Act 1985 as a qualifying tape for the purposes of section 68 of the 1990 Act,
“relevant period” has the meaning given in F4section 40B(3) above, and
F5. . ..
2
In sections 41 and 42 above and this section—
a
any reference to a film shall be construed in accordance with paragraph 1 of Schedule 1 to the Films Act 1985, and
b
any reference to the acquisition of a master negative, master tape or master disc of a film includes a reference to the acquisition of F6any rights in the film (or its soundtrack) that are held or acquired with the master negative, master tape or master audio disc.
C13
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, F7. . .
F7b
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