# The Tonnage Tax Regulations 2000, Regulation 12: Chargeable gains: use of assets by partnerships which include corporate partners


Where—
(a) an asset has been used wholly and exclusively for the purposes of activities of a partnership which are (or would be, if the partnership were a tonnage tax company) tonnage tax activities;
(b) throughout the period of use of the asset as mentioned in sub-paragraph (a), there was a corporate partner member of the partnership which was also a tonnage tax company; and
(c) the asset is disposed of by that corporate partner, or by another member of a group of which that corporate partner is a member,
references in paragraph 65(1) and (3) of Schedule 22 to a tonnage tax asset, or to any time at which or period during which an asset was a tonnage tax asset, shall respectively include references to the asset and period mentioned in this regulation, and references to a period during which an asset was not a tonnage tax asset shall be construed accordingly.

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Source: https://www.legislation.gov.uk/uksi/2000/2303/regulation/12 (the official version)
Page: https://openlegislation.uk/tonnage-tax-regulations-2000/regulation-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.