491 Allowances available in relation to old expenditure onlyU.K.
(1)Allowances under this Part are not available unless—
(a)the qualifying expenditure was incurred after 9th March 1982 and before 1st April 1992, and
(b)if the tenancy is an assured tenancy for the purposes of the Housing Act 1988, expenditure has been incurred which is within subsection (2) or (3).
(2)Expenditure is within this subsection if it was incurred by—
(a)a company which was an approved body on 15th March 1988, or
(b)a person who sold the relevant interest in the building, before any of the dwelling-houses comprised in it were used, to a company which was an approved body on 15th March 1988,
and either it was incurred before 15th March 1988 or it consists of the payment of sums under a contract entered into before that date.
(3)Expenditure is within this subsection if it was incurred by a company which—
(a)was an approved body on 15th March 1988, and
(b)bought or contracted to buy the relevant interest in the building before that date.