Commentary on Sections Overview Overview Section 194: Excluded activities: leasing of ships
644.This section supplements section 192(1)(d). It is based on sections 297(6) and (7) and 298(5) of ICTA.
645.Subsection (2) takes paragraph 18(2) of Schedule 5 to ITEPA (enterprise management incentives) as its model. This additional material, which is not in the source legislation, makes it clear that the requirements of subsection (4) do not have to be met in relation to offshore installations and pleasure craft.
646.Change 43 applies for the purposes of subsection (7). See the commentary on section 181.