s 46 Prohibition to sell, lease out or dispose of assets
46.—(1) During its qualifying period or within 2 years after the end of its qualifying period, a company must not, without the Minister’s written approval, sell, lease out or otherwise dispose of any assets in respect of which an investment allowance has been given. (2) Where during its qualifying period, or within 2 years after the end of its qualifying period, a company has sold, leased out or otherwise disposed of any assets in respect of which an investment allowance has been given, an amount equal to the aggregate of the investment allowance given in respect of that asset may be recovered in the following manner:(a) where the investment allowance given had been credited to the normal investment allowance account —(i) the amount is to be deducted from that account; and (ii) where that account is insufficient to give full effect to the recovery, an assessment or additional assessment in respect of the amount unrecovered is to be made upon the company; and (b) where the investment allowance given had been credited to the concessionary investment allowance account —(i) the amount is to be deducted from that account; and (ii) where that account is insufficient to give full effect to the recovery, an assessment or additional assessment in respect of the amount unrecovered is to be made upon the company.[11/2016] (3) Despite subsection (2), the Minister may waive wholly or partly the recovery of the investment allowance.[70