Citation and commencement

1. This Order may be cited as the Tonnage Tax (Further Opportunity for Election) Order 2023 and comes into force on 1st June 2023.

Further period during which tonnage tax election may be made

2. A tonnage tax election may be made at any time during the period beginning on 1st June 2023 and ending with 30th November 2024 (“the second further period”).

Application of Part 2 of Schedule 22 to the Finance Act 2000 for the second further period

3. —(1) In the case of elections made during the second further period, Part 2 of Schedule 22 to the Finance Act 2000 (tonnage tax elections)( 2 ) applies as adapted by this article.

(2)Paragraph 12 (when a tonnage tax election takes effect) has effect as if—

(a) in sub-paragraph (2)—

(i) after “A tonnage tax election” there were inserted “made during the second further period” ;

(ii) for “1st January 2000” there were substituted “1st January 2023” ;

(b) in sub-paragraph (3)—

(i) for “before the end of the initial period” there were substituted “during the second further period” ;

(ii) for “1st January 2000” there were substituted “1st January 2023” ;

(c) in sub-paragraph (4) for “before the end of the initial period” there were substituted “during the second further period” ;

(d) after sub-paragraph (6) there were inserted—

“ (7) In this paragraph “ the second further period ” means the period provided for by article 2 of the Tonnage Tax (Further Opportunity for Election) Order 2023 ( S.I. 2023/508 ). ” .