Energy Act 2004

Prospective

Exempt activities to be separate tradeE+W+S+N.I.

1Exempt activities carried on—E+W+S+N.I.

(a)by the NDA, or

(b)by a company while it is an NDA company,

are to be treated for corporation tax purposes as a separate trade distinct from all other activities carried on by the NDA or (as the case may be) that company.