Section 144 | Amounts which cease to be attributable

(1)This section applies if—

(a)an amount has been deferred under section 135, and

(b)circumstances arise in which any part of the amount ceases (otherwise than by being attributed) to be attributable.

(2)The shipowner is assumed not to have been entitled to defer so much of the amount as ceases to be attributable.

(3)For the purposes of this section an amount is attributable if it may be attributed to expenditure on new shipping in accordance with section 140.