Commentary on Sections Overview Overview Section 305: Excluded activities: leasing of ships
913.This section supplements section 303(1)(d). It is based on paragraph 4(7) and (8) and paragraph 5(1) of Schedule 28B to ICTA.
914.Subsection (2) uses as its model paragraph 18(2) of Schedule 5 to ITEPA (enterprise management incentives). 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.
915.Change 43 in Annex 1 applies for the purposes of subsection (7). See the commentary on section 290(7).