Part 6Oil
Petroleum revenue tax
105Abandonment expenditure: former participator reimbursed by defaulter
1
Section 108 of FA 1991 (reimbursement by defaulter in respect of certain abandonment expenditure) is amended as follows.
2
In subsection (1)(a), omit “(as set out in section 107 above)”.
3
For subsection (1)(b) substitute—
b
an amount is attributed to a contributing participator under paragraph 2A(2) of Schedule 5 to the principal Act; and
4
In subsection (1)(c), for “qualifying participator” substitute “
contributing participator
”
.
5
In subsection (4), for “qualifying participator”
(in each place) substitute “
contributing participator
”
.
6
In subsection (5), for “qualifying participator” substitute “
contributing participator
”
.
7
In subsection (7), for “qualifying participator” substitute “
contributing participator
”
.
8
The amendments made by this section have effect in relation to expenditure incurred after 30 June 2008.