(1) In this section, "refurbishment", in relation to a building or structure, means any work of construction, reconstruction, repair or renewal, including the provision of water, sewerage or heating facilities carried out in the course of the repair or restoration, or maintenance in the nature of repair or restoration, of the building or structure.

(2) A reference in this Chapter to expenditure incurred on the construction of a building or structure includes expenditure on the refurbishment of the building or structure, but does not include -

(a) any expenditure incurred on the acquisition of, or of rights in or over, any land,

(b) any expenditure on the provision of machinery or plant or on any asset treated for any chargeable period as machinery or plant, or

(c) any expenditure in respect of which an allowance is or may be made for the same or for any other chargeable period under section 670 or 765(1).