http://www.legislation.gov.uk/id/ukpga/2009/10/schedule/44

SCHEDULES

SCHEDULE 44Supplementary charge: reduction for certain new oil fields

Part 3Field allowance: when held and unactivated amount

Initial licensee to hold a field allowance

5

1

A company that is an initial licensee in a new oil field is to hold a field allowance for that field as from the beginning of the authorisation day.

2

The amount of the field allowance which the licensee is to hold at that time is—

T \times S

where—

T is the amount of the total field allowance for the field (see paragraph 24), and

S is the share of the equity in the field which the initial licensee has at the beginning of the authorisation day.