§ 'In section 46 of the Finance Act 1971 (machinery and plant on lease)
§ (a) in subsection (2) the words "which he is required to provide under the terms of his lease" and the words from "but" to the end shall be omitted.
§
(b) after subsection (2) there shall be added the following subsections:—
(3) Where a person incurs capital expediture on the provision for the purpose of a trade carried on by him of machinery and plant on the grant assignment or surrender to him of a lease, the machinery or plant shall be treated for the purpose of this Chapter as belonging to him for so long as it continues to be used for the purpsoes of the trade.
(4) For the purposes of subsections (2) and (3) above, references in section 44(6) above to the sale of the machinery or plant shall include references to the determination assignment or surrender of the lease and reference to net proceeds or price shall mean so much of the net proceeds or price as is attributable to the machinery or plant.".'.