[F1356JNALicensed sub-areasU.K.
This section has no associated Explanatory Notes
Where any person is entitled to a share of equity in a licensed area which relates to part only of that area—
(a)that part is referred to in this Chapter as a “licensed sub-area”, and
(b)the share of equity is referred to in this Chapter as a share of equity in the licensed sub-area,
and references to a licensee in a licensed sub-area are to be interpreted accordingly.]
Textual Amendments
F1Pt. 8 Ch. 9 inserted (26.3.2015) by Finance Act 2015 (c. 11), Sch. 13 para. 2