SCHEDULE 6Investment reliefs: excluded activities

PART 2Part 5 of ITA 2007: excluded activities from 6 April 2015


2The following provisions of Part 5 of ITA 2007 (enterprise investment scheme) are amended as set out in paragraphs 3 and 4

(a)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

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

Generation of electricity involving contracts for difference

3In section 198A—

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

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

(c)a scheme established in a territory outside the United Kingdom that—

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

(ii)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

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

Subsidised energy-related activities: anaerobic digestion and hydroelectric power

4(1)In section 198A—

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

(b)omit subsections (7) and (8), and

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

(2)In section 198B—

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

(b)omit subsection (5).


5The amendments made by this Part of this Schedule have effect in relation to shares issued on or after 6 April 2015.