Sch FIRST para 25 Definitions.
In this Schedule the following expressions have the meanings hereby assigned to them respectively, that is to say,— “ coal carbonisation and coal products distillation activities allied with colliery activities ” means distilling coal, and treating, and rendering saleable, products (including coke) of the distillation of coal; “ consumable or spare stores ” means any consumable stores, including supplies of timber or of materials of any kind, and movable property which is surplus to ordinary requirements and which has not at any time been issued for use or as a standby, so however that property surplus to ordinary requirements shall not be treated as falling outside this definition by reason of its having been so issued if it has been withdrawn on being found unnecessary or unsuitable for the purpose for which it was so issued or on the substitution of other property therefor; “ farm ” means any agricultural land and agricultural buildings within the meanings assigned to those expressions respectively by the Rating and Valuation (Apportionment) Act 1928, and “ farming stock ” and “ other agricultural assets ” have the meanings assigned to those expressions respectively by the Agricultural Credits Act 1928; “ fixed property ” means all buildings, works, fixtures, and fixed machinery and plant, and the sites thereof; “ interest ” does not include a mortgage estate or other interest held by way of security; “ iron and steel works ” means an establishment whose activities consist exclusively or mainly of making iron, making steel, or applying a process in making iron or steel, or of any combination of such activities; “ manufactured fuel activities ” means manufacturing and rendering saleable any manufactured fuel (including carbonised briquettes and ovoids) of which coal or coke is the principal constituent; “ movable property ” means all movable machinery and plant, wagons and other vehicles, engines, tractors, vessels (other than sea-going vessels) animals, and other movable equipment of any kind; “ option notice date ” means the date on which a notice exercising an option under subsection (2) or (3) of section five of this Act is given; “ site ” includes, in relation to any fixed property, in addition to the land on which it stands at ground level, so much of the subsoil and of the space above that land as the Board may reasonably require to use for the purposes of any of their functions; “ subsidiary ” means, in relation to a colliery or other concern, a company not less than ninety per cent. of the issued share capital of which is in the beneficial ownership of that concern, and, for the purposes of the foregoing definition, shares of a company shall be treated as if they had been in the beneficial ownership of a colliery or other concern if they are in the beneficial ownership of— a company that is a subsidiary of that concern within the foregoing definitions, or a company which owns not less than ninety per cent. of the issued share capital of that concern (in a case in which it is a company); “ class A subsidiary ” means, in relation to a colliery concern, a subsidiary thereof whose business includes coal carbonisation and coal products distillation activities allied with colliery activities or includes manufactured fuel activities; and “ class B subsidiary ” means, in relation to a colliery concern, a subsidiary thereof not being a class A subsidiary.