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SCHEDULES

SCHEDULE 10U.K. Nomination Scheme for Disposals and Appropriation

Modifications etc. (not altering text)

C1For regulations supplementing and modifying Sch. 10 for certain cases see Part III (under “Petroleum Revenue Tax: nomination scheme for disposals and appropriations”)

[F1InterpretationU.K.

Textual Amendments

F1 Sch. 10 para. 12A and cross-heading inserted (with effect in accordance with s. 150(14) of the amending Act) by Finance Act 2006 (c. 25), s. 150(13)

12AU.K.For the purposes of section 61 and this Schedule—

(a)a reference to the proposed delivery month in relation to a proposed transaction is a reference to the month in which delivery is to take place,

(b)relevant delivery ” means a delivery of oil under a contract made at arm's length in respect of which there has been no effective nomination, and

(c)delivery proceeds ” means the price received for a relevant delivery. ]