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Link to original content: http://www.legislation.gov.uk/ukpga/2015/11/schedule/6/part/2/data.akn

http://www.legislation.gov.uk/ukpga/2015/11/schedule/6/part/2Finance Act 2015An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with finance.texttext/xmlenStatute Law Database2024-04-25Expert Participation2024-04-06SCHEDULESSCHEDULE 6Investment reliefs: excluded activitiesPART 2Part 5 of ITA 2007: excluded activities from 6 April 2015Introductory2

The following provisions of Part 5 of ITA 2007 (enterprise investment scheme) are amended as set out in paragraphs 3 and 4—

section 198A (excluded activities for purposes of Part 5 (and, by virtue of section 257DA(9), Part 5A): subsidised generation or export of electricity), and

section 198B (excluded activities for those purposes: subsidised generation of heat and subsidised production of gas or fuel).

Generation of electricity involving contracts for difference3

In section 198A—

in subsection (3), omit “or” at the end of paragraph (b) and for paragraph (c) substitute—

a contract for difference has been entered into in connection with the generation of the electricity, or

a scheme established in a territory outside the United Kingdom that—

corresponds to one set out in a renewables obligation order under section 32 of the Electricity Act 1989, or

is similar to one established by virtue of regulations under Chapter 2 of Part 2 of the Energy Act 2013 (contracts for difference),

operates to incentivise the generation of the electricity.

, and

in subsection (9), at the appropriate place insert—

“contract for difference” means a contract for difference within the meaning of Chapter 2 of Part 2 of the Energy Act 2013 (see section 6(2) of that Act);

Subsidised energy-related activities: anaerobic digestion and hydroelectric power41

In section 198A—

in subsection (5), omit “, B or C” (exceptions for generation involving anaerobic digestion and hydroelectric power),

omit subsections (7) and (8), and

in subsection (9), omit the definition of “anaerobic digestion”.

In section 198B—

in subsection (3), omit “or B” (exception for generation or production involving anaerobic digestion), and

omit subsection (5).

Application5

The amendments made by this Part of this Schedule have effect in relation to shares issued on or after 6 April 2015.