697K General exclusion of investment income.
(1) Income from investments shall not be relevant shipping income, and for this purpose “income from investments” includes any income chargeable to tax under Case III, IV or V of Schedule D or under Schedule F.
(2) To the extent that an activity gives rise to income from investments it shall not be regarded as part of a company’s tonnage tax activities.
(3) Subsection (1) shall not apply to income that is relevant shipping income under
>sections 697H and 697I or to income that is relevant shipping income by virtue of paragraph (m) of the definition of “relevant shipping income”.<