These exclusions were introduced with effect from 6 April 2008 as a result of EU legislation on the prohibition of state aid. They do not, however, have any effect in respect of shares issued before that date (FA 2008, Sch. 11, para. 11).

The definitions of these activities are taken from various EU pronouncements.

Shipbuilding

‘Shipbuilding’ means the building, in the Union (including, from 31 December 2020, the UK), of self-propelled seagoing commercial vessels. These are in turn defined as:

vessels of not less than 100 gt used for the transportation of passengers and/or goods;

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