Section 86B — Corporation Tax Act 2009: Interpretation of section 86A

Interpretation of section 86A 86B 1 This section applies for the purposes of section 86A.

2 A flood or coastal erosion risk management project is a qualifying project if—

a an English risk management authority has applied to the Environment Agency for a grant under section 16 of the Flood and Water Management Act 2010 in order to fund the project, or b the Environment Agency has determined that it will carry out the project, and the Environment Agency has allocated funding by way of grant-in-aid to the project.

3 A contribution to a flood or coastal erosion risk management project is a qualifying contribution if the contribution is made—

a for the purposes of the project, and b under an agreement between—

i the company making the contribution, and ii the applicant authority or (as the case may be) the Environment Agency, or between those two bodies and other persons.

4 References to a flood risk management project or a coastal erosion risk management project are to be interpreted in accordance with sections 1 to 3 of the Flood and Water Management Act 2010.

5 In section 86A and this section— “ contribution ”, in relation to an accounting period, means—

a sum of money paid in that accounting period, or any services provided in that accounting period; “ English risk management authority ” has the meaning given by section 6(14) of the Flood and Water Management Act 2010.