# Finance Act 2000, Paragraph 64


(1) In this Part of this Schedule a “tonnage tax asset” means an asset that is used wholly and exclusively for the purposes of the tonnage tax activities of a tonnage tax company.
(2) Where for one or more continuous periods of at least a year part of an asset has been used wholly and exclusively for the purposes of the tonnage tax activities of a tonnage tax company and part has not, this Part of this Schedule shall apply as if the part so used were a separate asset.
(3) Where sub-paragraph (2) applies, any necessary apportionment of the gain or loss on the whole asset shall be made on a just and reasonable basis.

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Source: https://www.legislation.gov.uk/ukpga/2000/17/schedule/22/paragraph/64 (the official version)
Page: https://openlegislation.uk/finance-act-2000/schedule-22/paragraph-64
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.