# Finance Act 2024, Paragraph 7: Disapplication of 75% limit for ship managers

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

(1) In paragraph 37 (75% charter limit)—
(a) in sub-paragraph (1), in the words before paragraph (a), after “of” insert “a relevant company or group”, and
(b) after sub-paragraph (5) insert—
“(6) For the purposes of sub-paragraph (1)—
(a) a company is “relevant” if it operates one or more qualifying ships, and
(b) a group is “relevant” if it has one or more members that operate one or more qualifying ships.”
(2) In paragraph 49 (distributions of oversea shipping companies), in sub-paragraph (2), in paragraph (c), after “that” insert “, where the overseas company operates qualifying ships,”.

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Source: https://www.legislation.gov.uk/ukpga/2024/3/schedule/8/paragraph/7 (the official version)
Page: https://openlegislation.uk/finance-act-2024/schedule-8/paragraph-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.