No versions valid at: 06/04/2006
Point in time view as at 06/04/2006. This version of this cross heading contains provisions that are not valid for this point in time.
There are currently no known outstanding effects for the Finance Act 2006, Cross Heading: Extended time limit: the additional conditions.
Valid from 19/07/2006
18(1)The additional conditions mentioned in paragraph 17(8) are as follows.U.K.
(2)Condition A is that the commencement of the term of the lease is before 1st April 2009.
(3)Condition B is that, at the latest, the commencement of the term of the lease is as soon as is reasonably practicable after construction of the asset is substantially complete.
(4)Condition C is that construction of the asset proceeded continuously on and after 1st April 2006.
(5)Condition D is that construction of the asset proceeded at the normal pace for an asset of its type.
For this purpose, “normal pace” is the pace required to construct the asset in a reasonable time without delays or interruptions and consistent with normal business practice.
(6)This paragraph is supplemented by paragraph 19.
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