Section 14

Terms defined in s 43

• equipment

  equipment

  Defined · s 43

  “equipment” means any tangible asset which has an economically useful life of more than one year and does not include land, any improvements made to land other than fixtures or immovable property attached to land which can be removed from the land without substantial destruction to such fixture or immovable property;

  Open s 43
• lessee

  lessee

  Defined · s 43

  “lessee”, in relation to a fiance lease, means a person who acquires a right to possession and use of an equipment under the lease;

  Open s 43