SCHEDULES

SCHEDULE 1Minor and consequential amendments

Part 2Other enactments

Oil Taxation Act 1975 (c. 22)

313

The Oil Taxation Act 1975 is amended as follows.

314

In section 3(2) (allowance of expenditure (other than expenditure on long-term assets and abortive exploration expenditure)) in the first sentence—

(a)

omit “under subsection (2) of section 579 of the Taxes Act or”,

(b)

after “(“ITTOIA 2005”)” insert “ or section 77 of the Corporation Tax Act 2009 ”, and

(c)

omit “that subsection or”.