Schedules
C1SCHEDULE 18 Alternative Valuation of Ethane Used for Petrochemical Purposes
Returns
9
In any case where a notice under paragraph 5(1)(b) above or paragraph 6(1)(b) above relating to an election has been given to a party to the election or to the Board then, unless the notice has been withdrawn (whether in pursuance of an appeal or otherwise) or a price formula different from that to which the notice referred has effect as if specified in the election, any party to the election, in making a return under paragraph 2 of Schedule 2 to the principal Act with respect to ethane to which that election applies or which by virtue of that election falls within section 134(3) of this Act—
a
where the notice was given under paragraph 5 above, may include the market value on and after the date specified in the notice of any such ethane determined on such basis as appears to him to be the best practical alternative to that provided by the price formula to which the notice referred; and
b
where the notice was given under paragraph 6 above, shall include the market valu of any such ethane determined in accordance with the price formula to which the notice referred.
See Finance Act 1986 (c. 41), s. 109(5) and Sch. 21