SCHEDULES

SCHEDULE 14Investment allowance and cluster area allowance: further amendments

PART 1Amendments of CTA 2010

7

Before section 356J (but after the heading “Interpretation”) insert—

356IBAuthorisation of development”: oil fields

1

In this Chapter a reference to authorisation of development of an oil field is a reference to a national authority—

a

granting a licensee consent for development of the field,

b

serving on a licensee a programme of development for the field, or

c

approving a programme of development for the field.

2

In this section—

  • “consent for development”, in relation to an oil field, does not include consent which is limited to the purpose of testing the characteristics of an oil-bearing area,

  • “development”, in relation to an oil field, means winning oil from the field otherwise than in the course of searching for oil or drilling wells, and

  • “national authority” means—

    1. a

      the Secretary of State, or

    2. b

      a Northern Ireland department.