(1) This paragraph applies if when a company is subject to tonnage tax a disposal event occurs in relation to plant or machinery-

(a)in respect of which qualifying expenditure was incurred by the company before its entry into tonnage tax,

(b)some or all of the expenditure on which was carried to the tonnage tax pool on the company's entry into tonnage tax, and

(c)which is used by the company for the purposes of its tonnage tax trade.

(2) A ‘disposal event’ means an event as a result of which the company is required under Part 2 of the Capital Allowances Act 2001 to bring a disposal value into account.

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