2007 No. 1454
The Oil Taxation (Nomination Scheme for Disposals) (Amendment) Regulations 2007
Made
Laid before the House of Commons
Coming into force
Citation and commencement1
These Regulations may be cited as the Oil Taxation (Nomination Scheme for Disposals) (Amendment) Regulations 2007 and shall come into force on 8th June 2007.
Amendment of the Oil Taxation (Nomination Scheme for Disposals) Regulations 1987
2
The Oil Taxation (Nomination Scheme for Disposals) Regulations 19873 are amended as follows.
3
In regulation 2A4 (excluded oil)—
a
in paragraph (1) after “Brent-Forties-Oseberg forward contract” insert “or a Brent-Forties-Oseberg-Ekofisk forward contract”
b
after paragraph (2) insert—
3
In paragraph (1) “a Brent-Forties-Oseberg-Ekofisk forward contract” means a contract which provides for settlement, at least 21 days after the date on which it is made, by the delivery of a volume of oil comprising, at the seller’s election, Brent blend, Forties blend or oil of Oseberg grade or oil of Ekofisk blend, or a cash payment.
(This note is not part of the Regulations)