It is common, particularly in the last few months of a
technology lease (but also in other situations), to add on fresh
technology for a short while. This will usually be for less than 12
months and, where that is the case, condition D of regulation 3 is
not met. This additional technology etc is financed via a new
schedule to the existing lease, or by a new lease.
In general, the election does not apply to short-term leases
(ie leases of less than 12 months) but a short-term lease is
treated as an eligible lease if
