TTM17171 - Schedule 22 Finance Act 2000: Part IV the training requirement - Para 26 approval of initial training commitment

FA00/SCH22/PARA26

(1) A company or group proposing to make a tonnage tax election must produce, and submit to the Secretary of State for approval, an initial training commitment.

(2) If the Secretary of State is satisfied that the proposals are adequate to meet the minimum training obligation, he shall approve the initial training commitment and issue a certificate to that effect.

(3) A tonnage tax election is ineffective unless such a certificate of approval is in force with respect to the training commitment of the company or group in respect of which the election is made.

References

Administration of training requirement	TTM04001
Initial and annual training commitments	TTM04110