The carrying on of a shipping business is not an activity that has been specifically excluded from being a qualifying trade for EIS (see E3.142). However shipbuilding and leasing, including letting ships on charter are both specifically excluded1.
Offshore installations and pleasure crafts are not ships
Offshore installations and pleasure craft are not ships for the purpose of determining if a ship chartering business is being carried on2.
Definition of an offshore installation
An offshore installation is defined as a structure which is, is to be, or has been, put to a relevant use while in water3. A use is relevant if it is4:
- Ìý
•ÌýÌýÌýÌý for the purposes of exploiting or exploring with a view to exploiting, mineral resources by means of a well, or
- Ìý
•ÌýÌýÌýÌý for the storage of gas in or under the shore or the bed of any waters or recovery of gas so stored, or
- Ìý
•ÌýÌýÌýÌý for conveyance of things by means of a pipe, or
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