Part VI Companies, oil, insurance etc.
Chapter II Oil and mining industries
Oil exploration and exploitation
198DF1No double claims
1
If P makes a claim under section 198A or 198B, no other relevant claim may be made in respect of the relevant acquisition.
2
P may make a claim under section 198A or 198B (“the new claim”), if P has previously made a claim under section 152 or 153 (“the previous claim”) in respect of the relevant acquisition.
3
But P may make the new claim only if the previous claim is withdrawn at or before the time the new claim is made.
4
If the new claim is made in accordance with subsections (2) and (3), all necessary adjustments—
a
are to be made by making or amending assessments or by repayment or discharge of tax, and
b
are to be so made despite any limitation on the time within which assessments or amendments may be made.
5
In this section—
“relevant acquisition” means the acquisition of the new assets that is comprised in the disposal and acquisition to which a claim under section 198A or 198B or declaration under section 198C relates;
“relevant claim” means a claim under section 152, 153, 198A or 198B.