669AInterpretation.

In this Chapter—

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“lessee” has the same meaning as in Chapter 8 of Part 4;

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“levy” means the levy referred to in Council Regulation (EEC) No. 3950 of 28 December 1992¹, as amended;

“milk” means the produce of the milking of one or more cows and “other milk products” includes cream, butter and cheese;

“milk quota” means—

(a) the quantity of a milk or other milk products which may be supplied by a person carrying on farming, in the course of a trade of farming land occupied by such person to a purchaser in a milk quota year without that person being liable to pay a levy, or

(b) the quantity of a milk or other milk products which may be sold or transferred free for direct consumption by a person carrying on farming, in the course of a trade of farming land occupied by such person in a milk quota year without that person being liable to pay a levy;

“milk quota restructuring scheme” means a scheme introduced by the Minister for Agriculture, Food and Rural Development under the provisions of Article 8(b) of Council Regulation (EEC) No. 3950 of 28 December 1992, as amended;

“milk quota year” means a twelve month period beginning on 1 April and ending on the following 31 March;

“purchaser” has the meaning assigned to it under Council Regulation (EEC) No. 3950 of 28 December 1992;

“qualifying expenditure” means—

(a) in the case of milk quota to which paragraph (a) of the definition of “qualifying quota” refers, the amount of the capital expenditure incurred on the purchase of that qualifying quota, and

(b) in the case of milk quota to which paragraph (b) of the definition of “qualifying quota” refers, the lesser of—

(i) the amount of capital expenditure incurred on the purchase of that qualifying quota, or

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(ii) the amount of capital expenditure which would have been incurred on the purchase of that qualifying quota if the price paid were the maximum price for the milk quota year in which the purchase took place as set by the Minister for Agriculture, Food and Rural Development for the purposes of a Milk Quota Restructuring Scheme;

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(ii) the amount of capital expenditure which would have been incurred on the purchase of that milk quota if the price paid were set otherwise than by the Minister for Agriculture and Food for the purposes of a Milk Quota Restructuring Scheme in the area in which the land, with which that milk quota is associated, is situated;

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“qualifying quota” means–

(a) a milk quota purchased by a person on or after 1 April 2000 under a Milk Quota Restructuring Scheme, or

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(b) a milk quota purchased by a lessee who entered into a lease agreement with a lessor who is not a person connected (within the meaning of section 10) with that lessee, in respect of that quota prior to 13 October 1999 and which ends on or after 31 March 2000 and which complies with the provisions of Council Regulation (EEC) No. 857-84¹ of 31 March 1984 or Council Regulation (EEC) No. 3950 of 28 December 1992;

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(b) a milk quota purchased by a lessee who entered into a lease agreement with a lessor in respect of that quota prior to 13 October 1999 and which ends on or after 31 March 2000 and which complies with the provisions of Council Regulation (EEC) No. 857/84 of 31 March 1984¹ or Council Regulation (EEC) No. 3950 of 28 December 1992;

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(b) any other milk quota purchased on or after 1 April 2000;

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“writing-down period” has the meaning assigned to it by section 669B(2).