Article 2 Prescribed three year period and other definitions

the period prescribed for the purposes of paragraph 22C(1)(a) of Schedule 22 to the Finance Act 2000 (three year period to determine whether the percentage of the tonnage tax fleet which is Community-flagged has not decreased) is the period beginning on 2nd October 2003 and ending on 1st October 2006;

“the tonnage tax fleet” means qualifying ships operated by single companies or qualifying companies which are members of a tonnage tax group; and

“the percentage of the tonnage tax fleet which is Community-flagged” is—

$\genfrac{}{}{0.1ex}{}{CFT}{TT}\times 100$

where—

CFT is the aggregate tonnage of qualifying ships registered in one of the Member States’ registers,

• TT is the aggregate tonnage of all qualifying ships, and

• no qualifying ship is counted more than once in determining an aggregate.