[70W Transfers, assignments etc by lessor]
Capital Allowances Act 2001 (2001 c 2) | Legislation

[Transfers, assignments, novations, leaseback, variations etc]

[70W  Transfers, assignments etc by lessor]

[(1)     This section applies in any case where the following conditions are met—

(a)     a person (the “old lessor”) is lessor of plant or machinery under a plant or machinery lease (the “old lease”),

(b)     during the term of the lease, the old lessor transfers the plant or machinery to another person (the “new lessor”),

(c)     the transfer is not the grant of a plant or machinery lease by the old lessor,

(d)     immediately after the transfer, the new lessor is the lessor of the plant or machinery under a lease (“the new lease”) (whether or

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