Paragraph 2 Qualifying companiesF1

United Kingdom

This Schedule applies in relation to any company which—

(a)

carries on a ring fence trade, or

(b)

is engaged in oil and gas exploration and appraisal (see section 837B F2of this Act and section 1003 of ITA 2007) with a view to carrying on a ring fence trade,

and in this Schedule any such company is referred to as a “qualifying company”.

Annotations

Textual amendments

F1: Sch. 19B inserted (22.7.2004) by Finance Act 2004 (c. 12), s. 286(3), Sch. 38
F2: Words in Sch. 19B para. 2(b) inserted (6.4.2007 with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 236 (with Sch. 2)