SCHEDULES
SCHEDULE 34Oil decommissioning expenditure: consequential amendments
CAA 2001
6
1
Section 165 (abandonment expenditure within 3 years of ceasing ring fence trade) is amended as follows.
2
In the heading, for “abandonment expenditure” substitute “
general decommissioning expenditure
”
.
3
In subsection (1)(b) and (c), for “abandonment expenditure” substitute “
general decommissioning expenditure
”
.
4
In subsection (3)—
a
in paragraph (a), for “relevant abandonment cost” substitute “
relevant decommissioning cost
”
, and
b
in paragraph (b), for “abandonment expenditure” substitute “
general decommissioning expenditure
”
.
5
In subsection (4), in the definition of “the relevant abandonment cost”—
a
for “relevant abandonment cost” substitute “
relevant decommissioning cost
”
, and
b
for “abandonment expenditure”, in each place, substitute “
general decommissioning expenditure
”
.