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The Oil Taxation (Market Value of Oil) Regulations 2006
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This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Oil Taxation (Market Value of Oil) Regulations 2006 No. 3313
Market value: Category 2 oils
17. The market value of a quantity of Category 2 oil to which these Regulations apply is found by whichever of the methods in regulation 18 (method 1) or regulations 19 to 23 (method 2) would produce a sum which more closely reflects the price which would normally apply in a sale at arm’s length for a similar quantity of that oil on the notional delivery day (found in accordance with paragraph 1A of Schedule 3 to OTA), but subject to the special rules in regulation 24.
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