429(1)  This section determines the amount of the income under section 425 when a qualifying change of ownership in relation to a company carrying on a business of leasing plant or machinery in partnership with other persons occurs on any day (“the relevant day”).

429(2)  The amount of the income is found by first–

(a)applying the formula in section 421(3) to give the basic amount (as if the company were “the partner company” mentioned in section 421), and

(b)making any adjustment in accordance with any of sections 404 to 406 to the basic amount.

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