[70YF The “term” of a lease]
Capital Allowances Act 2001 (2001 c 2) | Legislation

[70YF  The “term” of a lease]

[(1)     The term of a lease is the period comprising—

(a)     so much of the post-commencement period as is a non-cancellable period, and

(b)     any subsequent periods which meet the conditions in subsection (2).

(2)     The conditions are that—

(a)     the lessee has an option to continue to lease the asset for the period (whether with or without further payment), and

(b)     it is reasonably certain, at the inception of the lease, that the lessee will exercise that option.

(3)

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