VCM17155 - Qualifying trades: Shipbuilding
In relation to shares issued on or after 6 April 2008
shipbuilding is an excluded activity.
Shipbuilding is defined as the building of
“self-propelled seagoing commercial vessels”. To meet
that definition vessels have to have permanent propulsion and
“all the characteristics of self navigation on the high
seas”.
Vessels of less than 100 gross tonnes (or tugs of less than
365KW) are not covered by this exclusion. And because they are not
seagoing vessels, neither are vessels built for use on inland
waterways. Military vessels and large private yachts are also not
excluded as they are not commercial vessels.
Ship repairing or conversion is not regarded as
shipbuilding, so those activities are not excluded
