CVS: general: qualifying issuing companies: qualifying trades
A trade is a qualifying trade if:
- it is conducted wholly or mainly in the UK,
- it is conducted on a commercial basis and with a view to profit,
- it does not consist, either completely or as to a substantial part (see VCM3010), of excluded activities,
For the meaning of ‘wholly or mainly in the UK’ see Statement of Practice SP3/00. The UK includes the territorial sea - that is, waters within 12 nautical miles of the coast - but does not include the Channel Islands or the Isle of Man.
As regards excluded activities, see VCM3000 onwards.