[F112AU.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. ]
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)