SCHEDULES
SCHEDULE 10Sale etc of lessor companies etc
Part 4Miscellaneous
Definitions for purposes of Schedule
41
1
This paragraph applies for the purposes of this Schedule.
2
“Company” means a body corporate.
3
“Excluded lease of background plant or machinery for a building” has the meaning given in Chapter 6A of Part 2 of CAA 2001.
4
“Finance lease”, in the case of any person, means a lease which, under generally accepted accounting practice, falls or (would fall) to be treated as a finance lease or loan in the accounts of that person.
5
“Fixture”—
a
means any plant or machinery that is so installed or otherwise fixed in or to a building or other description of land as to become, in law, part of that building or other land, and
b
includes any boiler or water-filled radiator installed in a building as part of a space or water heating system.
F15A
“Long funding finance lease”, “long funding lease” and “long funding operating lease” have the same meaning as in Part 2 of CAA 2001 (see section 70YI of that Act).
6
“Plant or machinery” has the same meaning as in Part 2 of CAA 2001.
7
“Plant or machinery lease” has the meaning given in Chapter 6A of that Part.
8
The market value of any plant or machinery at any time is to be determined on the assumption of a disposal by an absolute owner free from—
a
all leases (including any agreement or arrangement which is or includes a plant or machinery lease), and
b
other encumbrances.
9
Section 839 of ICTA (connected persons) applies.