# Finance Act 1994, Paragraph 4

Extent: E+W+S+N.I.

(1) A contract falls within this paragraph if it relates only to a commercial ship and is a contract of general insurance of a relevant class.
(2) For the purposes of this paragraph, a contract of general insurance is of a relevant class if it insures against risks arising from or in relation to—
(a) accidents,
(b) ships, or
(c) liabilities of ships,
(and no other risks).
(3) For the purposes of this paragraph a commercial ship is a ship which is—
(a) of a gross tonnage of 15 tons or more; and
(b) not designed or adapted for use for recreation or pleasure.

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Source: https://www.legislation.gov.uk/ukpga/1994/9/schedule/7A/paragraph/4 (the official version)
Page: https://openlegislation.uk/finance-act-1994/schedule-7A/paragraph-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.