Section 68 — Finance Act 2014: Mineral extraction allowances: expenditure on planning permission

Mineral extraction allowances: expenditure on planning permission 68 1 Part 5 of CAA 2001 (mineral extraction allowances) is amended as follows.

2 In section 396 (meaning of “mineral exploration and access”), in subsection (2) for “if planning permission is not granted” substitute “ and not as expenditure on acquiring a mineral asset ” .

3 In section 398 (relationship between main types of qualifying expenditure), after “Subject to” insert “ section 396(2) and ” .

4 The amendments made by this section have effect in relation to expenditure incurred on or after the day on which this Act is passed.