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“commencement date” means the date of the passing of the Finance Act 2003;

(g) a tug in respect of which a certificate has not been given by the Minister for the Marine and Natural Resources certifying that in the opinion of the Minister the tug is capable of operating in seas outside the portion of the seas which are, for the purposes of the Maritime Jurisdiction Act, 1959, the territorial seas of the State outside the portion of the sea which is, for the purposes of the Maritime Jurisdiction Act 2021, the territorial sea of the State ;

(1) In this Part and in Schedule 18B—

“initial period” has the meaning assigned to it by paragraph 2 of Schedule 18B;

“qualifying ship” means, subject to subsection (2), a self-propelled seagoing vessel (including a hovercraft) of 100 tons or more gross tonnage which is certificated for navigation at sea by the competent authority of any country or territory, but does not include a vessel (in this Part and in Schedule 18B referred to as a “vessel of an excluded kind”) which is—

“renewal election” has the meaning assigned to it in paragraph 6 of Schedule 18B;

(3) (a) References in this Part and in Schedule 18B to a company or group entering or leaving tonnage tax are references to its becoming or ceasing to be a tonnage tax company or group.

(b) References in this Part and in Schedule 18B to a company or group of companies being subject to tonnage tax are references to the company or group being entitled to calculate its profits in accordance with the provisions of this Part and that Schedule.

(4) Schedule 18B shall apply for the purposes of this Part.

“control” shall be construed in accordance with subsections (2) to (6) of section 432;

(e) a tanker used for petroleum extraction activities (within the meaning of Chapter 2 of Part 24),

(e) a tanker used for petroleum extraction activities (within the meaning of Chapter 2 of Part 24),

“tonnage tax” has the meaning assigned to it in section 697B;

“tonnage tax profits”, in relation to a tonnage tax company, means the company’s profits for an accounting period calculated in accordance with section 697C;

“company election” and “group election” have the meanings respectively assigned to them by section 697D(1);

“tonnage tax election” has the meaning assigned to it in section 697D(1);

(k) a dividend or other distribution of a company not resident in the State (in this Part referred to as the “overseas company”) in respect of which the conditions set out in section 697H(1) are met,

(l) gains treated as income by virtue of section 697J,

“tonnage tax trade”, in relation to a tonnage tax company, means a trade carried on by the company the income from which is within the charge to corporation tax and which consists solely of the carrying on of tonnage tax activities or, in the case of a trade consisting partly of the carrying on of such activities and partly of other activities, that part of the trade consisting solely of the carrying on of tonnage tax activities and which is treated under section 697L as a separate trade carried on by the company;

(b) so much of the company’s chargeable gains as are excluded from the charge to tax by section 697N;