Section 212S | Transactions on relevant day ^F1

(1)This section applies if any plant and machinery is transferred on the relevant day and (apart from subsection (4)(c) of section 212K) the transfer would have the effect of reducing RTWDV (as determined in accordance with that section).

(2)No person other than C or P is entitled to claim an allowance in respect of the plant or machinery after the transfer.