SCHEDULES
SCHEDULE 33 Taxation provisions
Part II Public-Private Partnership Agreements
Machinery and plant
12
1
Nothing in—
F1a
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
b
F2section 176(2) or (3) of that Act, or
c
F3sections 67 and 68. of that Act,
shall, by reason only of any provision made by or under a PPP agreement, affect the entitlement of any company to capital allowances in respect of capital expenditure incurred by it.
2
Where, in accordance with any provision made by or under a PPP agreement, any machinery or plant in respect of which a company has been entitled to allowances under F4Part 2 of the Capital Allowances Act 2001 falls to be transferred, on the expiration of the term of the PPP agreement, from the company—
a
to a relevant body, or
b
to such other body or person as a relevant body may specify in accordance with the PPP agreement,
the disposal constituted by that transfer shall be deemed for the purposes of that Part to be for a nil consideration, notwithstanding F5item 7 in the Table in section 61(2) of that Act.