SCHEDULES

SCHEDULE 12 Leasing arrangements: finance leases and loans

Part IV Supplementary provisions

Assets which represent the leased asset

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For the purposes of this Schedule, the following assets shall be treated as representing the leased asset—

(a)

any asset derived from, or created out of, the leased asset;

(b)

any asset from or out of which the leased asset was derived or created;

(c)

any asset derived from or created out of an asset from or out of which the leased asset was derived or created; or

(d)

any asset which derives the whole or a substantial part of its value from the leased asset or from an asset which itself represents the leased asset.