Point in time view as at 01/04/2013.
There are currently no known outstanding effects for the Finance Act 2012, Cross Heading: Consequential amendments.
18(1)Part 8 of CTA 2010 (oil activities) is amended as follows.U.K.
(2)In section 270 (overview of Part)—
(a)in subsection (7), for “certain new oil fields” substitute “ eligible oil fields ”, and
(b)in subsection (8), for paragraph (c) substitute—
“(c)eligible oil field”, see section 357.”
(3)In section 330 (supplementary charge in respect of ring fence trades), in subsection (5), for “certain new oil fields” substitute “ eligible oil fields ”.
Commencement Information
I1Sch. 22 para. 18 in force at 1.4.2013 for the purposes of the amendments made by that paragraph by S.I. 2013/744, art. 2
19(1)Schedule 4 to CTA 2010 (index of defined expressions) is amended as follows.U.K.
(2)At the appropriate place insert—
| “eligible oil field (in Chapter 7 of Part 8) | section 357”; |
| ““additionally-developed oil field (in Chapter 7 of Part 8) | section 349A”. |
(3)Omit the entry relating to “initial licensee (in Chapter 7 of Part 8)”.
Commencement Information
I2Sch. 22 para. 19 in force at 1.4.2013 for the purposes of the amendments made by that paragraph by S.I. 2013/744, art. 2
20U.K.In section 63 of FA 2011 (reduction of supplementary charge for new oil fields), omit subsection (3).
Commencement Information
I3Sch. 22 para. 20 in force at 1.4.2013 for the purposes of the amendment made by that paragraph by S.I. 2013/744, art. 2
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