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32(1)In subsection (2C)(b), for “section 62A of the 1990 Act (demolition costs relating to offshore machinery or plant)” substitute “section 164 of the Capital Allowances Act (abandonment expenditure incurred before cessation of ring fence trade)”.
(2)Omit subsections (5) and (6).
(3)In subsection (11)—
(a)in paragraph (a), for “section 62B of the 1990 Act (post-cessation abandonment expenditure related to offshore machinery or plant)” substitute “section 165 of the Capital Allowances Act (abandonment expenditure within 3 years of ceasing ring fence trade)”, and
(b)in paragraph (b), for “section 109 of that Act (restoration expenditure incurred after cessation of trade of mineral extraction)” substitute “section 416 of that Act (expenditure on restoration within 3 years of ceasing to trade)” and for “the last day on which it carried on the trade” substitute “the last day of trading”.
(4)In subsection (12), for “section 62A of the 1990 Act” substitute “section 162 of the Capital Allowances Act”.
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