SCHEDULES
C2C3SCHEDULE 17 Transfers of Interests in Oil Fields
Annotations:
Modifications etc. (not altering text)
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See also Finance Act 1981 (c. 35), s. 112 for application of s. 111 of that Act (restriction of expenditure supplement) and Oil Taxation Act 1975 (c. 22), s. 9 (limit on amount of tax payable) in case of a transfer.
C1Part I Preliminary
Annotations:
Modifications etc. (not altering text)
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See also—
Exclusion of transfer rules
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1
Parts II and III of this Schedule shall not apply in relation to a transfer if the old and new participators make an application in that behalf in the notice under paragraph 3 above and the Board consider that those provisions would not materially affect the total tax chargeable in respect of the field.
2
The Board shall give notice of their decision under this paragraph to the old and new participators.
Definitions applied for purposes of Capital Allowances Act 1990 (c. 1, SIF 63:1), s. 64—transfers of interests in oil fields.
Sch. 17 applied (27.7.1999) by 1999 c. 16, s. 97(3)