SCHEDULE 5Enterprise management incentives
Part 3Qualifying companies
Excluded activities
16
The following are excluded activities—
(a)
dealing in land, in commodities or futures or in shares, securities or other financial instruments;
(b)
dealing in goods otherwise than in the course of an ordinary trade of wholesale or retail distribution (see also paragraph 17);
(c)
banking, insurance, money-lending, debt-factoring, hire-purchase financing or other financial activities;
(d)
leasing, including letting ships on charter or other assets on hire (see also paragraph 18);
(e)
receiving royalties or licence fees (see also paragraph 19);
(f)
providing legal or accountancy services;
(g)
property development (see also paragraph 20);
(h)
farming or market gardening;
(i)
holding, managing or occupying woodlands, any other forestry activities or timber production;
F1(ia)
shipbuilding (see also paragraph 20A);
(ib)
producing coal (see also paragraph 20B);
(ic)
producing steel (see also paragraph 20C);
(j)
operating or managing hotels or comparable establishments, or managing property used as a hotel or comparable establishment (see also paragraph 21);
(k)
operating or managing nursing homes or residential care homes, or managing property used as a nursing home or residential care home (see also paragraph 22);
(l)
any activities which are excluded activities under paragraph 23.