Taxation of Chargeable Gains Act 1992 (c. 12)U.K.
21(1)Section 196 of the Taxation of Chargeable Gains Act 1992 is amended as follows.U.K.
(2)In subsection (1)(a) and (b), for ““Oil and Gas Authority”” substitute “ appropriate authority ”.
(3)Omit subsection (3).
(4)In subsection (5), after ““section—”” insert—
““"appropriate authority””, in relation to a UK licence means—
(a)in the case of a licence under Part 1 of the Petroleum Act 1998—
(i)the Welsh Ministers, in relation to the Welsh onshore area (as defined in section 8A of that Act);
(ii)otherwise, the Oil and Gas Authority;
(b)in the case of a licence under the Petroleum (Production) Act (Northern Ireland) 1964, the Department for the Economy;”.
Commencement Information
I1Sch. 6 para. 21 in force at 1.10.2018 by S.I. 2017/1179, reg. 4(b)