Part 7Miscellaneous
Petroleum revenue tax
103Tax-exempt tariffing receipts
1
Section 6A of the Oil Taxation Act 1983 (c. 56) (tax-exempt tariffing receipts) is amended as follows.
2
In subsection (4), insert at the end
or
c
use in relation to a UK recommissioned field (see subsection (5) below) or oil won from such a field.
3
In subsection (5), insert at the end—
“UK recommissioned field” means any oil field which is not a new field or qualifying existing field but as respects which the conditions in section 185(1A) of the Finance Act 1993 are satisfied (fields recommissioned after earlier decommissioning).
4
The amendments made by this section are deemed to have come into force on 1st July 2007.