There are currently no known outstanding effects for the Finance Act 2012, Paragraph 3.
3(1)Section 337 (initial licensee to hold a field allowance) is amended as follows.U.K.
(2)In subsection (1)—
(a)for “an initial licensee in a new oil field” substitute “ a licensee in an additionally-developed oil field or a new oil field (an “eligible oil field”) on the authorisation day ”, and
(b)at the end insert “ (and accordingly may hold more than one field allowance for the field at the same time) ”.
(3)In subsection (2), omit “initial”.
(4)The heading of that section becomes “ Licensee to hold field allowance ”.
Commencement Information
I1Sch. 22 para. 3 in force at 1.4.2013 for the purposes of the amendments made by that paragraph by S.I. 2013/744, art. 2
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