Section 136 | Further conditions for deferment

The conditions referred to in section 135(1)(c) are that—

(a)the relevant disposal event is of a kind mentioned in section 61(1)(a) to (d) (cessation of ownership, loss, abandonment, destruction etc. of ship),

(b)the old ship was a qualifying ship immediately before the relevant disposal event,

(c)the shipowner has not incurred a loss in respect of the qualifying activity for the chargeable period for which he is liable to the balancing charge, and

(d)no amount in respect of the old ship has been allocated to—

(i)the overseas leasing pool,

(ii)a single asset pool under section 206 (plant or machinery provided or used partly for purposes other than those of the qualifying activity),

(iii)a single asset pool under section 211 (payment of partial depreciation subsidy), or

(iv)a pool for a qualifying activity consisting of special leasing.