TTM20007 - SCHEDULE 7 FINANCE ACT 2005: Para 7
Effect of change of use(1) Paragraph 22 is amended as follows.
(2) In sub-paragraph (1) (qualifying ship beginning to be used as vessel of excluded kind ceases to be such ship when it begins to be so used) for “as a vessel of an excluded kind” substitute “for non-qualifying purposes”.
(3) In sub-paragraph (2)(b) (use as vessel of excluded kind for up to 30 days in accounting period to be disregarded) for “as a vessel of an excluded kind” substitute “for non-qualifying purposes”.
(4) In sub-paragraph (5) (meaning of references to use as vessel of excluded kind) for “as a vessel of an excluded kind are to” substitute “for non-qualifying purposes are to-
(a) use for an activity other than any of the activities mentioned in paragraph 19(1)(a) to (d), or
(b) – “.
(5) After that sub-paragraph insert -
“(6) This paragraph does not apply for the purposes of sub-paragraphs (2) to (5) of paragraph 20A (qualifying dredgers and tugs)”.