21Section 105(2) applies with the substitution for paragraph (b) of—
“(b)does not use the plant or machinery for the purposes of a qualifying activity carried on there or for earning profits chargeable to tax by virtue of section 830(4) of ICTA,”,
in relation to the use of plant or machinery for leasing under a lease entered into before 16th March 1993.
22(1)Sub-paragraphs (2) and (3) apply if—
(a)expenditure has been incurred on the provision of plant or machinery which is leased as described in section 116(1), and
(b)the whole or a part of the expenditure has qualified for a first-year allowance under—
(i)section 43(4) of CAA 1990, or
(ii)paragraph 47(7).
(2)Section 117(1) applies as if the reference in paragraph (b) to expenditure qualifying for a normal writing-down allowance under section 116(3) included a reference to expenditure qualifying for the first-year allowance.
(3)Subsections (3) to (5) of section 117 apply as if the reference in section 117(3)(b) to expenditure qualifying for a normal writing-down allowance under section 116(3) included a reference to expenditure qualifying for the first-year allowance.
23Subsections (1) and (2) of section 123 do not apply if the main object, or one of the main objects—
(a)of the letting of the ship or aircraft on charter,
(b)of a series of transactions of which the letting of the ship or aircraft on charter was one, or
(c)of any of the transactions in such a series,
was to obtain a first-year allowance in respect of expenditure which was first-year qualifying expenditure under paragraph 47 and was incurred by any person on the provision of the ship or aircraft.