Section 298 | The time limit for qualifying enterprise zone expenditure ^F1

(1)For the purposes of sections 299 to 304, the time limit for expenditure on the construction of a building on a site in an enterprise zone is—

(a)10 years after the site was first included in the zone, or

(b)if the expenditure is incurred under a contract entered into within those 10 years, 20 years after the site was first included in the zone.

(2)In those sections “EZ building” is short for “building on a site in an enterprise zone”.

(3)In this Part “enterprise zone” means an area designated as such by an order—

(a)made by the Secretary of State , the Scottish Ministers or the National Assembly for Wales, under powers conferred by Schedule 32 to the Local Government, Planning and Land Act 1980 (c. 65), or^F2

(b)in Northern Ireland, made by the Department of the Environment under Article 7 of the Enterprise Zones (Northern Ireland) Order 1981 (S.I.1981/607 (N.I.15)).