(1)Sections 168 to 170 apply if—
(a)a person (“the contractor”) is entitled to an interest in a contract made with, or with the authorised representative of, the government of a country or territory in which oil is or may be produced, and
(b)the contract provides (among other things) for any plant or machinery of a description specified in the contract which—
(i)is provided by the contractor, and
(ii)has an oil-related use under the contract,
to be transferred (immediately or later) to the government or representative.
(2)For the purposes of this section and sections 168 to 170, plant or machinery has an oil-related use if it is used—
(a)to explore for, win access to or extract oil,
(b)for the initial storage or treatment of oil, or
(c)for other purposes ancillary to the extraction of oil.
(3)In this section and sections 168 to 170 “oil” has the meaning given by section 556(3).