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SCHEDULES

SCHEDULE 15U.K. Amendments relating to oil exported directly from off-shore fields

M1THE OIL TAXATION ACT 1983U.K.

Marginal Citations

6U.K.In Schedule 1 (extension of allowable expenditure for assets generating receipts), in paragraph 1 (associated assets), in sub-paragraph (4) paragraph (c) and the word “and" immediately preceding it shall be omitted.

7U.K.In Schedule 2 to that Act (supplemental provisions as to receipts from qualifying assets), in paragraph 12 (purchase at place of extraction), in sub-paragraph (3) for paragraphs (a) and (b) there shall be substituted before it has been transported—

(a)to the place at which it is first landed in the United Kingdom; or

(b)to the place referred to in section 3(1)(f)(ii) of the principal Act.

8U.K.In Schedule 4 to that Act (receipts attributable to United Kingdom use of foreign field assets), in paragraph 11 there shall be omitted—

(a)in sub-paragraph (3) the words “and on the further assumption set out in sub-paragraph (4) below"; and

(b)sub-paragraph (4).