SCHEDULES

SCHEDULE 1Minor and consequential amendments

Part 2Other enactments

Energy Act 2004 (c. 20)

583

1

Amend section 27 (tax exemption for NDA activities) as follows.

2

In subsection (8)—

a

in the definition of “trading income”—

i

in paragraph (a), after “trade” insert “ carried on wholly or partly in the United Kingdom ”, and

ii

in paragraph (b) for “Case I of Schedule D” substitute “ Chapter 2 of Part 3 of the Corporation Tax Act 2009 ”, and

b

in the definition of “trading losses”—

i

after “trade” insert “ carried on wholly or partly in the United Kingdom ”, and

ii

for “Case I of Schedule D” substitute “ Chapter 2 of Part 3 of the Corporation Tax Act 2009 ”.

3

In subsection (9)—

a

in paragraph (a) for “Chapter 2 of Part 4 of the Finance Act 1996 (c. 8)” substitute “ Part 5 of the Corporation Tax Act 2009 ”, and

b

in paragraph (b) for “under Schedule 26 to the Finance Act 2002 (c. 23) (derivative contracts)” substitute “ in accordance with Part 7 of the Corporation Tax Act 2009 (derivative contracts) ”.