Finance Act 2009

Section 91

SCHEDULE 45 U.K. Oil: miscellaneous amendments

OTA 1975 U.K.

1 (1) OTA 1975 is amended as follows. U.K.

(2) Omit paragraphs 9 and 10 of Schedule 3 (election to have amounts mentioned in section 2(9)(b) and (c) spread).

(3) In consequence of the omission of paragraph 9 of Schedule 3, omit section 9(4).

(4) Omit paragraph 3 of Schedule 4 (allowable expenditure incurred before 13 November 1974).

(5) The repeals made by this paragraph have effect in relation to chargeable periods beginning after 30 June 2009.

OTA 1983 U.K.

2 (1) OTA 1983 is amended as follows. U.K.

(2) Omit section 9(3) and paragraph 3 of Schedule 3 (receipts from contracts made before 8 May 1982).

(3) In consequence of the omission of subsection (3) of section 9—

(a) in subsection (2) of that section, for “subsections (3) and (4)” substitute “ subsection (4) ”, and

(b) in subsection (4)(b) of that section, for “subsections (1) to (3)” substitute “ subsections (1) and (2) ”.

(4) Omit sections 13 and 14 and Schedule 5 (transitional provision for expenditure incurred on or before 31 December 1983).

FA 1993 U.K.

3 (1) Schedule 20A to FA 1993 (as inserted by Part 1 of Schedule 33 to FA 2008) is renumbered as Schedule 20B to that Act. U.K.

(2) In the following provisions, for “Schedule 20A” substitute “ Schedule 20B ”

(a) section 6(1A) of OTA 1975,

(b) paragraph 15(9A) of Schedule 17 to FA 1980, and

(c) section 185(1ZA)(b) of FA 1993.

ICTA U.K.

4 (1) In section 502(3A) of ICTA (interpretation of Chapter 5 of Part 12), omit the words from “but” to the end. U.K.

(2) The repeal made by this paragraph has effect on and after 22 April 2009.