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Textual Amendments
F1Pt. 8 Ch. 6A inserted (with effect in accordance with Sch. 12 para. 5 7 8 of the amending Act) by Finance Act 2015 (c. 11), Sch. 12 para. 2
Modifications etc. (not altering text)
C1Pt. 8 Ch. 6A restricted (26.3.2015) by Finance Act 2015 (c. 11), Sch. 13 para. 6(2)
(1)Section 5 of CAA 2001 (when capital expenditure is incurred) applies for the purposes of this Chapter as for the purposes of that Act.
(2)Regulations under section 332BA(1)(b) may make provision about when any expenditure that is investment expenditure as a result of the regulations is to be treated for the purposes of this Chapter as incurred.
(3)This section is subject to section 332CA(3).
In this Chapter (except where otherwise specified)—
“adjusted ring fence profits”, in relation to a company and an accounting period, is to be read in accordance with section 330ZA;
“cumulative total amount of activated allowance” has the meaning given by section 332E(2);
“investment allowance” has the meaning given by section 332C(2);
“licence” has the same meaning as in Part 1 of OTA 1975 (see section 12(1) of that Act);
“licensee” has the same meaning as in Part 1 of OTA 1975;
“relevant income”, in relation to a qualifying oil field and an accounting period, has the meaning given by section 332F(3).]