# Finance Act 1994, Paragraph 7A


(1) A contract falls within this paragraph if it relates only to the operation of a spacecraft 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) goods in transit,
(c) fire or natural forces,
(d) damage to, or loss or malfunction of, property, or
(e) general liability to third parties,
(and no other risks).
(3) For the purposes of this paragraph—
(a) the “operation of a spacecraft” means the launch, flight, orbit or re-entry of a spacecraft, and
(b) “spacecraft” includes all component parts of its launch vehicle.

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