QUALIFYING COMPANIES AND GROUPS

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16(1)  For the purposes of this Schedule a company is a “qualifying company”  if–

(a)it is within the charge to corporation tax,

(b)it operates qualifying ships, and

(c)those ships are strategically and commercially managed in the United Kingdom.

16(2)  A “qualifying group”  means a group of which one or more members are qualifying companies.

EFFECT OF TEMPORARILY CEASING TO OPERATE QUALIFYING SHIPS

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