Section 28

in paragraph 2b—

in subparagraph (a), by substituting for the words

“and 2022” the words “, 2022, 2023 and 2024”;

by substituting for the words “and 2022”

the words “, 2022, 2023 and 2024”; and

by deleting the word “or” at the end of that subparagraph;

by substituting for the words “year of assessment 2022” the words “years of assessment 2022, 2023 and 2024”; and

by substituting for the full stop at the end of that subparagraph the words “; or”;

and

ends in the year of assessment 2023, an allowance under paragraph 1 or 1a shall be given in respect of capital expenditure incurred by the company in the basis period for the year of assessment 2024.”;

in paragraph 4b, by inserting after the words “paragraph 2”

the words “or 2b”; and

Finance 27

by inserting after paragraph 4b the following paragraph:

“4c.  Notwithstanding paragraph 4, so much of the allowance or allowances as cannot be given to a person as ascertained under that paragraph which relates to capital expenditure incurred after the end of the period of fifteen consecutive years of assessment referred to in paragraph 2b until the year of assessment 2024—

shall only be given to that person in accordance with paragraph 4 for a period of seven consecutive years of assessment and that period commences immediately following the year of assessment 2024; and

any amount of the allowance or aggregate amount of the allowance at the end of that period which has not been given to that person, by reason of insufficiency or absence of statutory income from his business for that period, shall be disregarded for the purposes of this

Schedule.”.