Part IIIU.K. Relevant New Fields and Associated Companies
Relevant new fieldsU.K.
8(1)For the purposes of the principal section “relevant new fields” means, subject to sub-paragraph (2) below, an oil field—U.K.
(a)no part of which lies in a landward area, within the meaning of the Petroleum (Production) Regulations 1982 or in an area to the East of the United Kingdom and between latitudes 52° and 55° North; and
(b)for no part of which consent for development has been granted to the licensee by the Secretary of State before 17th March 1987; and(c) for no part of which a programme of development had been served on the licensee or approved by the Secretary of State before that date.
(2)In determining, in accordance with sub-paragraph (1) above, whether an oil field (in this sub-paragraph referred to as “the new field”) is a relevant new field, no account shall be taken of a consent for develoment granted before 17th March 1987 or a programme of development served on the licensee or approved by the Secretary of State before that date if—
(a)in whole or part that consent or programme related to another oil field for which a determination under Schedule 1 to the principal Act was made before the determination under that Schedule for the new field; and
(b)on or after 17th March 1987 a consent for development is or was granted or a programme of development is or was served on the licensee or approved by the [OGA] and that consent or programme relates, in whole or in part, to the new field.
Textual Amendments
Marginal Citations
9(1)In paragraph 8 above “development” means—U.K.
(a)the erection or carrying out of permanent works for the purpose of getting oil from the field or for the purpose of conveying oil won from the field to a place on land; or
(b)winning oil from the field otherwise than in the course of searching for oil or drilling wells;
and consent for development does not include consent which is limited to the purpose of testing the characteristics of an oil-bearing area and does not relate to the erection or carrying out of permanent works.
(2)In sub-paragraph (1) above “permanent works” means any structures or other works whatsoever which are intended by the licensee to be permanent and are neither designed to be moved from place to place without major dismantling nor intended by the licensee to be used only for searching for oil.
Associated companiesU.K.
10(1)For the purposes of the principal section, a company is an associated company of a participator (being itself a company) making an election under that section if—U.K.
(a)throughout that part of the relevant period in which both were in existence one was a 51 per cent. subsidary of the other and the other was not a 51 per cent. subsidary of any company; or
(b)each of them was, throughout that part of the relevant period in which it was in existence, a 51 per cent, subsidary of a third company which was not itself a 51 per cent. subsidiary of any company.
(2)In this paragraph “company” means any body corporate and [Chapter 3 of Part 24 of the Corporation Tax Act 2010] (subsidiaries) applies for the purposes of this paragraph.
(3)For the purposes of this paragraph the relevant periods ends on the date on which the election in question is made and begins—
(a)in the case of an election relating to expenditure incurred in the first claim period of the field of origin, on the date on which any part of that field was first determined under Schedule 1 to the principal Act; and
(b)in the case of an election relating to expenditure incurred in any other claim period of the field of origin, at the beginning of that claim period.