# Energy Act 2004, Paragraph 1


Exempt activities carried on—
(a) by the NDA, or
(b) by a company while it is an NDA company,
are to be treated for corporation tax purposes as a separate trade distinct from all other activities carried on by the NDA or (as the case may be) that company.

---
Source: https://www.legislation.gov.uk/ukpga/2004/20/schedule/4/paragraph/1 (the official version)
Page: https://openlegislation.uk/energy-act-2004/schedule-4/paragraph-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.