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Flagging: meaning of terms used in paragraph 22A

22B (1) In paragraph 22A “the reference date� means 17th January 2004 or, if later,-

(a) in the case of a single company, the date of the end of the accounting period in which the company became (or becomes) a tonnage tax company;

(b) in the case of a member of a group, the date of the end of the accounting period in which the group became (or becomes) a tonnage tax group;
but where the members of a group had (or have) different accounting periods at the time the group became (or becomes) a tonnage tax group, paragraph (b) has effect by reference to the first of those accounting periods.

(2) For the purposes of sub-paragraph (2) of paragraph 22A a financial year is excepted if it is designated by an order made by the Treasury as a financial year in relation to which that paragraph is not to have effect (see further paragraph 22C(1) to (3)).

(3) For the purposes of paragraph 22A the percentage of a company’s total tonnage which is Community-flagged is-

where-

CFT is the aggregate tonnage of such of the relevant ships as are registered in one of the Member States� registers, and

TT is the aggregate tonnage of all the relevant ships.
(4) For the purposes of sub-paragraph (3) the ships which are the relevant ships are-

(a) if the company is a single company, the ships operated by the company, or

(b) if the company is a member of a tonnage tax group, the ships operated by each member of the group which is a qualifying company.
(5) Sub-paragraphs (3) and (4) are subject to any regulations made under paragraph 22C(4).

(6) A ship shall not be counted more than once in determining for the purposes of sub- paragraph (3) the aggregate tonnage of relevant ships.

(7) In this Schedule “Member States� registers� has the meaning given by the Annex to Commission communication C(2004) 43 - Community guidelines on State aid to maritime transport (as from time to time amended or replaced).