SCHEDULE 18Oil taxation: market value of oil
Part 1Amendments of the Oil Taxation Act 1975
Returns by participators
7
(1)
In Schedule 2 (management and collection) paragraph 2 is amended as follows.
(2)
In sub-paragraph (2)(a)(iii)
(market value of oil disposed of otherwise than by sale at arm's length) for “in the calendar month in which the delivery was made” substitute “
as determined in accordance with Schedule 3 to this Act in the case of the delivery
”
.
(3)
In sub-paragraph (2)(b)(ii)
(market value of oil relevantly appropriated) for “in the calendar month in which the delivery was made” substitute “
as determined in accordance with Schedule 3 to this Act in the case of the appropriation
”
.
(4)
In sub-paragraph (2)(d)(ii)
(market value of oil not disposed of etc at end of period) for “in the last calendar month” substitute “
on the last business day
”
.