Regulation 15

SCHEDULE 4 EXPENDITURE OF A CAPITAL NATURE

1.  Expenditure of a capital nature is expenditure on, or in connection with—

(a) the acquisition, reclamation, improvement or laying out of any land;

(b) the acquisition, construction, enlargement, improvement, repair or demolition of any building, wall, fence or other structure, or any playground or other hard-standing;

(c) the laying out of playing fields and other facilities for social activities and physical recreation; or

(d) the provision of any furniture, plant, machinery, apparatus, vehicles, vessels and equipment;

used or intended to be used for the purposes of a school.

2.  In paragraph 1 above “building” includes any fixtures and fittings affixed to a building.