Property, plant and equipment are tangible items that:
(a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and
(b) are expected to be used during more than one period.
Property, plant and equipment are specifically discussed in IAS 16 Property, Plant and Equipment.
Source: Glossary of Terms of IFRSs as at 31 December 2008.
