s 360N Balancing events
(1) The following are balancing events for the purposes of this Part— (a) the relevant interest in the qualifying building is sold; (b) a long lease of the qualifying building is granted out of the relevant interest in consideration of the payment of a capital sum; (c) if the relevant interest is a lease, the lease ends otherwise than on the person entitled to it acquiring the interest reversionary on it; (d) the person who incurred the qualifying expenditure dies; (e) the qualifying building is demolished or destroyed; (f) the qualifying building ceases to be qualifying business premises (without being demolished or destroyed). (2) Section 360I(2) and (3) (meaning of “long lease”) applies for the purposes of subsection (1)(b).