Part 8Oil activities
F1CHAPTER 8Supplementary charge: onshore allowance
Changes in equity share: activation of allowance
356GIntroduction to sections 356GA to 356GD
(1)
Sections 356GA to 356GD apply to a company in respect of an accounting period and a licensed area that is or contains a site, if the following conditions are met—
(a)
the company is a licensee in the licensed area for the whole, or for part, of the accounting period;
(b)
the company has different shares (greater than zero) of the equity in the licensed area at different times during the accounting period.
(2)
In a case where a company has three or more different shares of the equity in a licensed area during a particular day, sections 356GA to 356GD (in particular, provisions relating to the beginning or end of a day) have effect subject to the necessary modifications.