(1) It shall be a condition of remaining within tonnage tax that a company is not a party to any transaction or arrangement that is an abuse of the tonnage tax regime.
(2) A transaction or arrangement shall be such an abuse as is referred to in subsection (1) if in consequence of its being, or having been, entered into the provisions of this Part and Schedule 18B may be applied in a way that results (or would but for this subsection result) in -
(a) a tax advantage (within the meaning of section 811, or section 811C, as the case may be) being obtained for -
(i) a company other than a tonnage tax company, or
(ii) a tonnage tax company in respect of its non-tonnage tax activities, or
(b) the amount of the tonnage tax profits of a tonnage tax company being artificially reduced.
(3) If a tonnage tax company is a party to any such transaction or arrangement as is referred to in subsection (1), the Revenue Commissioners may -
(a) if it is single company, give notice excluding it from tonnage
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