0 judgments cite this provision SC
115VZA Effect of temporarily ceasing to operate qualifying ships
(1) A temporary cessation (as against permanent cessation) of operating any qualifying ship by a company shall not be considered as a cessation of operating of such qualifying ship and the company shall be deemed to be operating such qualifying ship for the purposes of this Chapter.
(2) Where a qualifying company continues to operate a ship, [or inland vessel, as the case may be,] which temporarily ceases to be a qualifying ship, such ship [or inland vessel, as the case may be,] shall not be considered as a qualifying ship for the purposes of this Chapter.