SCHEDULE 4 Consequential amendments
The Taxation of Chargeable Gains Act 1992 (c. 12)
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(1)
The Taxation of Chargeable Gains Act 1992 shall be amended as follows.
(2)
In section 193 (roll-over relief not available for gains on oil licences), in subsection (1) for “the Petroleum (Production) Act 1934” there shall be substituted “
Part I of the Petroleum Act 1998
”
.
(3)
In section 196 (interpretation of sections 194 and 195), in the definitions of “oil” and “overseas petroleum” in subsection (5), for “the Petroleum (Production) Act 1934” there shall be substituted “
Part I of the Petroleum Act 1998
”
.
(4)
In Schedule 3 (assets held on 31st March 1982), in paragraph 7(2)(c) for “the Petroleum (Production) Act 1934” there shall be substituted “
Part I of the Petroleum Act 1998
”
.