Corporation Tax Act 2010

351“Authorisation of development of an oil field”U.K.
This section has no associated Explanatory Notes

(1)In this Chapter a reference to authorisation of development of an oil field is a reference to a national authority—

(a)granting a licensee consent for development for the field,

(b)serving on a licensee a programme of development for the field, or

(c)approving a programme of development for the field.

(2)In this section—

  • consent for development”, in relation to an oil field, does not include consent which is limited to the purpose of testing the characteristics of an oil-bearing area,

  • development”, in relation to an oil field, means winning oil from the field otherwise than in the course of searching for oil or drilling wells, and

  • national authority” means—

    (a)

    the Secretary of State, or

    (b)

    a Northern Ireland department.