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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 21 March 2016 - onwards
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670. Mine development allowance.

(1) In this section -

"mine" means a mine operated for the purpose of obtaining, whether by underground or surface working, any scheduled mineral, mineral compound or mineral substance within the meaning of section 2 of the Minerals Development Act, 1940, but, in relation to capital expenditure incurred before the 6th day of April, 1960, "mine" means an underground excavation made for the purpose of getting minerals;

references to capital expenditure incurred in connection with a mine shall be construed as references to capital expenditure incurred -

(a) in the development of the mine on searching for, or on discovering and testing, mineral deposits or winning access to such deposits, or

(b) on the construction of any works which are of such a nature that when the mine has ceased to be operated they are likely to have so diminished in value that their value will be nil or almost nil,

but as excluding references to -

(i) any expenditure on the acquisition of the site of the mine or of t

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