Related Commentary  

161(1)  This section applies if a person–

(a)incurs pre-trading expenditure on the provision of plant or machinery for the purposes of mineral exploration and access, and

(b)owns the plant or machinery on the first day of trading.

But this is subject to subsection (5).

161(2)  The person is to be treated for the purposes of this Part as if he had–

(a)sold the plant or machinery immediately before the first day of trading, and

(b)on that first day incurred capital expenditure on the provision of the plant or machinery for the purposes of the trade.

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