SCHEDULES
SCHEDULE 2Transitionals and savings
Part 6Losses on disposal of shares
Excluded activities: leasing of ships
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1
In relation to shares issued before 6 April 2007, section 194 (as applied by the definition of “non-qualifying activities” in section 137(7)) applies with the omission of subsection (7).
2
In relation to shares issued before 6 April 2004, section 194 (as applied by section 137(7)) applies with the following modifications—
a
in subsection (1), the substitution for “offshore installations” of “oil rigs”,
b
in subsection (2), the substitution for “offshore installation” of “oil rig”, and
c
in subsection (8), the insertion after “this section” of—
“oil rig” means any ship which is an offshore installation for the purposes of the Mineral Workings (Offshore Installations) Act 1971,
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