General scope of these Regulations
This section has no associated Explanatory Memorandum
5. These Regulations apply for the purpose of determining the market value of oil won from a field to which section 2(5)(b) or (c) of OTA applies and which is—
(a)delivered, or relevantly appropriated, on or after 1st July 2006; or
(b)held by a participator and not delivered at the end of a chargeable period.