s 42 Application of Parts 8 and 10 and section 3 in relation to corporate partnerships and partners of corporate partnerships
42.—(1) Regulations may be made under section 64(1) to apply the provisions of Parts 8 and 10 and section 3 (called in this section the applied provisions) for the following purposes:(a) to enable an investment allowance to be given to a corporate partnership; (b) to apportion the investment allowance given to the corporate partnership to its partners.[20/2020] (2) Without limiting section 64(1), the regulations mentioned in subsection (1) may make provision —(a) to make any modification to any of the applied provisions that is necessary or expedient for the purposes mentioned in subsection (1); (b) to specify the circumstances under which a corporate partnership is considered to have sold, leased out or otherwise disposed of any assets in respect of which an investment allowance has been given; and (c) for the recovery of an investment allowance given to a corporate partnership from its partners, and the waiver of any liability of a partner to repay any part of the investment allowance.[66A [20/2020]