6The following provisions of Part 6 of ITA 2007 (venture capital trusts) are amended as set out in paragraphs 7 and 8—
(a)section 309A (excluded activities for purposes of Part 6: subsidised generation or export of electricity), and
(b)section 309B (excluded activities for those purposes: subsidised generation of heat and subsidised production of gas or fuel).
7In 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.”, and
(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);”.
8(1)In section 309A—
(a)in subsection (5), omit “, B or C” (exceptions for generation involving anaerobic digestion and hydroelectric power),
(b)omit subsections (7) and (8), and
(c)in subsection (9), omit the definition of “anaerobic digestion”.
(2)In section 309B—
(a)in subsection (3), omit “or B” (exception for generation or production involving anaerobic digestion), and
(b)omit subsection (5).
9The amendments made by this Part of this Schedule have effect in relation to relevant holdings issued on or after 6 April 2015.