As of 6 April 1997 this text has repealed
(1) In this section -
"hotel investment" means capital expenditure incurred either on the construction of, or the acquisition of a relevant interest in, a building or structure which falls to be regarded as an industrial building or structure within the meaning of section 255 (1)(d) of the Income Tax Act, 1967, other than a building or structure to which the first proviso to that provision relates;
"hotel partnership" includes any syndicate, group or pool of persons, whether or not a partnership, through or by means of which, a hotel investment is made;
"market value" shall be construed in accordance with section 49 of the Capital Gains Tax Act, 1975;
"member" in relation to a hotel partnership includes every person who participates in that partnership or who has contributed capital, directly or indirectly, to that partnership;
"preferential terms" in relation to the acquisition of an interest referred to in subsection (4)(a)(i), means terms un
…