PART 2Transitional modifications of taxation legislation having effect until the commencement of Part 2 of Schedule 6 to the Wales Act 2016

Period for which the modifications made by regulations 3 to 7 have effect2

The modifications specified in regulations 3 to 7 have effect until the commencement of Part 2 of Schedule 6 (amendments relating to onshore petroleum consequential on transfer of certain functions under the Petroleum Act 1998 to the Welsh Ministers) to the Wales Act 2017.

Oil Taxation Act 19753

In section 12(1) (interpretation of Part 1) of the Oil Taxation Act 19753, in the definition of “licensee”, paragraph (b) has effect as if, for “the OGA” there were substituted—

  • —

    1. i

      the Scottish Ministers, where the rights relate to oil in the Scottish onshore area, as defined in section 8A of the Petroleum Act 1998, or

    2. ii

      the OGA, where the rights relate to oil elsewhere,

Taxation of Chargeable Gains Act 19924

Section 196 (interpretation) of the Taxation of Chargeable Gains Act 19924 has effect as if—

a

in subsection (1), in paragraphs (a) and (b), and subsection (3), for “Oil and Gas Authority” there were substituted “appropriate authority”;

b

in subsection (5), after “section—” there were inserted—

  • “appropriate authority”, in relation to a licence under Part 1 of the Petroleum Act 1998—

    1. a

      the Scottish Ministers, in relation to the Scottish onshore area, as defined in section 8A of that Act, or

    2. b

      otherwise, the Oil and Gas Authority;

Finance Act 19935

Section 185 (abolition of petroleum revenue tax for oil fields with development consent on or after 16March 1993) of the Finance Act 19935 has effect as if—

a

in subsection (1C), in paragraphs (a) and (b), for “OGA” there were substituted “appropriate authority”;

b

in subsection (2), in paragraph (b), for “OGA” there were substituted “appropriate authority”;

c

after subsection (2) there were inserted—

2A

In subsections (1C) and (2), the “appropriate authority” means—

a

in relation to a field that is wholly within the Scottish onshore area, as defined in section 8A of the Petroleum Act 1998, the Scottish Ministers;

b

otherwise, the OGA.

Capital Allowances Act 20016

In section 556(2) of the Capital Allowances Act 20016, paragraph (a) of the definition of “the relevant authority” has effect as if for “, the Oil and Gas Authority” there were substituted—

  • —

    1. i

      the Scottish Ministers, in relation to the Scottish onshore area, as defined in section 8A of that Act;

    2. ii

      otherwise, the Oil and Gas Authority

Corporation Tax Act 20107

1

Section 356IB (authorisation of development: oil fields) of the Corporation Tax Act 20107 has effect as if, in subsection (2), in the definition of “national authority”—

a

the word “or” were omitted at the end of paragraph (a);

b

after paragraph (a) there were inserted—

aa

the Scottish Ministers, or

2

Section 356J (authorisation of development: drilling and extraction sites) of that Act8 has effect as if, in subsection (4), in the definition of “national authority”—

a

the word “or” were omitted at the end of paragraph (a);

b

after paragraph (a) there were inserted—

aa

the Scottish Ministers, or