# Finance Act 1994, Paragraph 7

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

(1) A contract falls within this paragraph if it relates only to a commercial aircraft 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) aircraft, or
(c) aircraft liability,
(and no other risks).
(3) For the purposes of this paragraph a commercial aircraft is an aircraft which is—
(a) of a weight of 8,000 kilogrammes 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/7 (the official version)
Page: https://openlegislation.uk/finance-act-1994/schedule-7A/paragraph-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.