FA 1982 is amended as follows.

In section 134(1) (alternative valuation of ethane used for petrochemical purposes) for “Chapter V of Part XII of the Taxes Act 1988” substitute “ Chapter 16A of Part 2 of the Income Tax (Trading and Other Income) Act 2005 ”.

In Schedule 19 (supplementary provisions relating to advance petroleum revenue tax) omit paragraph 10(7).