Section 24: Capital Allowances.

(1) Any license holder under the provisions of this Act shall be entitled, in determining its total profits, to deduct from its assessable profits a capital allowance of ninety-five percent of Qualifying Capital Expenditure incurred in the year in which the investment is incurred-
(a) all certified exploration, development and processing expenditure, including feasibility study and
(b) all infrastructure costs incurred regardless of ownership and replacement.
(2) The amount of any loss incurred by any person eligible under the provisions of this part of this Act shall be deducted as far as it is possible from the assessable profits of the first year of assessment after that in which the loss was incurred and in so far as it cannot be so made, then from such amounts of such assessable profits of the next year of assessment, and so on up to a limit of four years after which period any unrelieved loss shall become lapse.