SCHEDULES
SCHEDULE 19CPetroleum extraction activities: ring fence expenditure supplement
Part 4Post-commencement supplement
The pool of ring fence losses and the pool of non-qualifying Schedule 19B losses
19
1
For the purpose of determining the amount of any post-commencement supplement, a qualifying company is to be taken at all times in its post-commencement periods to have a continuing mixed pool (the “ring fence pool”) of—
a
the carried forward qualifying Schedule 19B amount,
b
the company's ring fence losses, and
c
post-commencement supplement.
2
The ring fence pool continues even if the amount in it is nil.
3
For the purpose of determining the amount of any post-commencement supplement, a qualifying company is also to be taken in its post-commencement periods to have a non-qualifying pool consisting of the carried forward non-qualifying Schedule 19B amount.
4
But the non-qualifying pool ceases to exist when the amount in it is reduced to nil.
5
In this paragraph—
“the carried forward qualifying Schedule 19B amount”, in relation to a qualifying company, means the amount in its qualifying pool for the purposes of Part 4 of Schedule 19B immediately before 1st January 2006, and
“the carried forward non-qualifying Schedule 19B amount”, in relation to a qualifying company, means the amount in its non-qualifying pool for the purposes of Part 4 of Schedule 19B immediately before 1st January 2006.