SCHEDULES

SCHEDULE 34 U.K.Oil decommissioning expenditure: consequential amendments

CAA 2001 U.K.

6 (1) Section 165 (abandonment expenditure within 3 years of ceasing ring fence trade) is amended as follows. U.K.

(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 ”.