Finance Act 2012 (c. 14)

SCHEDULES

SCHEDULE 22 U.K. Reduction of supplementary charge for certain oil fields

Amendments of Chapter 7 of Part 8 of CTA 2010 U.K.

13 (1) Section 347 (acquisition of field allowance if equity acquired) is amended as follows. U.K.

(2) In subsection (1), for “the new oil field” substitute “ the eligible oil field ”.

(3) In subsection (2)—

(a) for “the new oil field” (in the first place it occurs) substitute “ the eligible oil field ”, and

(b) for “the new oil field” (in the second place it occurs) substitute “ the field ”.

(4) In subsection (4), for “the new oil field” substitute “ the field ”.

Commencement Information

I1 Sch. 22 para. 13 in force at 1.4.2013 for the purposes of the amendments made by that paragraph by S.I. 2013/744, art. 2