94 ShipsU.K.
(1)Expenditure is not long-life asset expenditure if—
(a)it is incurred before 1st January 2011 on the provision of a ship of a sea-going kind, and
(b)each of the conditions in subsection (2) is met.
(2)The conditions are that—
(a)the ship is not an offshore installation,
F1(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(c)the primary use to which ships of the same kind are put by their owners (or, if their use is made available to others, those others) is a use otherwise than for sport or recreation.
F2(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1 S. 94(2)(b) repealed (with effect in accordance with Sch. 27 para. 11 of the amending Act) by Finance Act 2004 (c. 12) , Sch. 27 para. 8 , 42 Pt. 2(19)
F2 S. 94(3) repealed (with effect in accordance with Sch. 27 para. 11 of the amending Act) by Finance Act 2004 (c. 12) , Sch. 27 para. 8 , 42 Pt. 2(19)