SCHEDULES

SCHEDULE 6Investment reliefs: excluded activities

PART 3Part 6 of ITA 2007: excluded activities from 6 April 2015

Generation of electricity involving contracts for difference

7

In section 309A—

a

in subsection (3), omit “or” at the end of paragraph (b) and for paragraph (c) substitute—

ba

a contract for difference has been entered into in connection with the generation of the electricity, or

c

a scheme established in a territory outside the United Kingdom that—

i

corresponds to one set out in a renewables obligation order under section 32 of the Electricity Act 1989, or

ii

is similar to one established by virtue of regulations under Chapter 2 of Part 2 of the Energy Act 2013 (contracts for difference),

operates to incentivise the generation of the electricity.

b

in subsection (9), at the appropriate place insert—

“contract for difference” means a contract for difference within the meaning of Chapter 2 of Part 2 of the Energy Act 2013 (see section 6(2) of that Act);