Section 107 | The overseas leasing pool

(1)Qualifying expenditure to which this section applies, if allocated to a pool, must be allocated to a class pool (“the overseas leasing pool”).

(2)This section applies to qualifying expenditure if—

(a)it is incurred on the provision of plant or machinery for leasing,

(b)the plant or machinery is at any time in the designated period used for overseas leasing which is not protected leasing, and

(c)the expenditure is not—

(i)long-life asset expenditure, or

(ii)expenditure that is required to be allocated to a single asset pool.