BLM23030 - LFLs: commencement and
transition: excepted leases: extended time limits: FA06/Sch8/Para
18
The time limits in Conditions 3 and 4 in
BLM23025 may be extended to 1 April 2009
if all the following conditions are met:
- Condition A: the lease term commences
before 1 April 2009
- Condition B: the lease term commences as
soon as reasonably practicable after construction of the asset is
substantially complete
- Condition C: construction has proceeded
continuously from 1 April 2006
- Condition D: construction has proceeded at
the normal pace for an asset of its type. For this purpose
‘normal pace’ is the pace required to construct the
asset in a reasonable time without delays or interruptions and
consistent with normal business practice.
These conditions are unlikely to be met where the start of
construction of the asset has been brought forward, but the
delivery date has not.
Events beyond the control of the people involved may make it
impossible to meet conditions B, C or D (FA06/SCH8/PARA19).
Therefore in some circumstances these conditions are treated as
met, even where they are not met, see
BLM23035.
