28 Cushion gas
Finance Act 2010 (2010 c 13) | Legislation

28  Cushion gas

(1)     Part 2 of CAA 2001 (plant and machinery allowances) is amended as follows.

(2)     Section 70J (meaning of “funding lease”) is amended as follows.

(3)     After subsection (1) insert—

“(1A)     A plant or machinery lease is also a “funding lease” if the plant or machinery is cushion gas.”

(4)     In subsection (2), for “Subsection (1) is” substitute “Subsections (1) and (1A) are”.

(5)     After subsection (6) insert—

“(7)     In this section “cushion gas” means gas that functions or is intended to function as plant in a particular gas storage facility.”

(6)     In section 104A(1) (special rate expenditure)—

(a)     omit the “and” at the end of paragraph

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