Point in time view as at 01/06/2002.
There are currently no known outstanding effects for the Finance Act 1994, Paragraph 5.
5(1)A contract falls within this paragraph if it relates only to a lifeboat and is [F1a contract of general insurance of a relevant class.]U.K.
[F2(2)For the purposes of this paragraph, a contract of general insurance is of a relevant class if it insures against risks arising from or in relation to—
(a)accidents,
(b)ships, or
(c)liabilities of ships,
(and no other risks).]
(3)For the purposes of this paragraph a lifeboat is a vessel used or to be used solely for rescue or assistance at sea.
Textual Amendments
F1Words in Sch. 7A para. 5(1) substituted (1.12.2001) by 2001/3649, art. 346(5)(a)
F2Sch. 7A para. 5(2) substituted (1.12.2001) by S.I. 2001/3649, art. 346(5)(b)
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