(1) The Principal Act is amended by inserting the following after Part 24:
"Part 24A Shipping: Tonnage Tax
697A. Interpretation (Part 24A).
(1) In this Part and in Schedule 18B -
'bareboat charter terms', in relation to the charter of a ship, means the letting on charter of a ship for a stipulated period on terms which give the charterer possession and control of the ship, including the right to appoint the master and crew;
'chartered in' means -
(a) in relation to a single company, the letting on charter of a ship to the company otherwise than on bareboat charter terms, and
(b) in relation to a group of companies, the letting on charter of a ship otherwise than on bareboat charter terms to a qualifying company that is a member of the group by a person who is not a qualifying company that is a member of the group;
'company election' and 'group election' have the meanings respectively assigned to them by section 697D(1);
'commencement date' means the day appointed by the Minister for Fi
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