Search Legislation

Oil Taxation Act 1975

Status:

This is the original version (as it was originally enacted).

3(1)For the purposes of subsection (5) of section 2 of this Act the aggregate market value of any oil falling within paragraph (b) or (c) of that subsection shall be arrived at by ascertaining, for each calendar month in the chargeable period in question, the market value at the material time of so much, if any, of that oil as was—

(a)in the case of oil falling within the said paragraph (b), delivered as there mentioned in that month; or

(b)in the case of oil falling within the said paragraph (c), appropriated as there mentioned in that month, and, in either case, aggregating the market values so ascertained.

(2)In this paragraph and elsewhere in this Part of this Act " calendar month" (where those words are used) means a month of the calendar year, and " the material time", in relation to a calendar month, means noon on the relevant day, that is to say—

(a)for a month containing an odd number of days, the middle day of the month ;

(b)for a month containing an even number of days, the last day of the first half of the month.

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources