[198I Exploration, appraisal and development expenditure]
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

[198I  Exploration, appraisal and development expenditure]

[(1)     The incurring of exploration, appraisal and development expenditure in the course of a ring fence trade is to be treated for the purposes of sections 198A to 198H as the acquisition of assets—

(a)     which are the new assets mentioned in section 152,

(b)     which are taken into use, and used

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