# Finance Act 1994, Paragraph 5

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

(1) A contract falls within this paragraph if it relates only to a lifeboat 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 lifeboat is a vessel used or to be used solely for rescue or assistance at sea.

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Source: https://www.legislation.gov.uk/ukpga/1994/9/schedule/7A/paragraph/5 (the official version)
Page: https://openlegislation.uk/finance-act-1994/schedule-7A/paragraph-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.