Finance Act 2006

Part 5U.K.Oil

(1) New basis for determining the market value of oil

  • 1  The repeal in Schedule 8 to F(No.2)A 1987 has effect for chargeable periods beginning on or after 1st July 2006.

  • 2  The other repeals have effect in accordance with section 146 of this Act.

Short title and chapterExtent of repeal
Oil Taxation Act 1975 (c. 22)

In section 5A(5C), paragraph (a) and the word “and” at the end of paragraph (b).

In Schedule 3, paragraph 2(3) and, in paragraph 2A,—

(a)

in sub-paragraph (1), the words “, or in accordance with those sub-paragraphs as modified by sub-paragraph (3) of that paragraph,”;(b) in sub-paragraph (3), the words “(with sub-paragraphs (2)(f) of paragraph 2 applying accordingly)”.

Finance Act 1983 (c. 28)Section 38.
Finance Act 1987 (c. 16)

Section 62(2)(c).

In Schedule 11—

(a)

paragraph 1(3) to (7);

(b)

paragraphs 3 to 5.

Finance (No. 2) Act 1987 (c. 51)

In section 101—

(a)

in subsection (5) the words “, subject to subsection (6) below”; and

(b)

subsection (6).

In Schedule 8, paragraph 5.

Finance (No. 2) Act 1992 (c. 48)In Schedule 15, paragraph 4(1).
Finance Act 1994 (c. 9)Section 235(1)(d) and (2).

(2) Nomination scheme

These repeals shall come into force in accordance with the provisions of sections 149 and 150 of this Act.

Short title and chapterExtent of repeal
Finance Act 1987 (c. 16)

In section 61(1) the words “, supplies and appropriations”.

Section 61(6) and (7).

In section 61(9) the words “subsection (7) or”.

In paragraph 1(1) of Schedule 10 the words “, “proposed supply” and “proposed appropriation””.

Paragraph 1(2) of Schedule 10.

Paragraph 2(1)(b), (c) and (d) of Schedule 10.

The words following paragraph 2(1)(d) of Schedule 10.

Paragraph 3 of Schedule 10.

Paragraph 4(2), (2A) and (4) of Schedule 10.

In paragraph 5(1)(b) of Schedule 10, the words “in the case of a proposed sale”.

In paragraph 5(1)(c) and (d) of Schedule 10, the words “or relevantly appropriated”.

In paragraph 6 of Schedule 10—

(a)

in sub-paragraph (1), the words “Subject to sub-paragraph (3) below,” and

(b)

sub-paragraphs (2) and (3).

Paragraphs 8 to 11 of Schedule 10.

In paragraph 12(1) of Schedule 10, the words “, supply or appropriation”.