(12)A qualifying company,––(a)which on its own, opts out of the tonnage tax scheme; or(b)which makes a default in complying with the provisions contained in sections 232(1) to (20); or(c)whose option has been excluded from tonnage tax scheme in pursuance of an order made under section 234(4),shall not be eligible to opt for tonnage tax scheme for ten years from the date of opting out or default or order.
