Search Legislation

Gas Levy Act 1981

What Version

 Help about what version

Opening Options

 Help about opening options

Status:

This is the original version (as it was originally enacted).

1Gas levy

(1)For the year 1980-81 and each subsequent year a levy, to be known as gas levy, shall be payable out of their revenues by the British Gas Corporation (in this Act referred to as " the Corporation ") in respect of gas to which this section applies and which is supplied to or won by the Corporation in that year.

(2)This section applies—

(a)to gas purchased by the Corporation under a tax-exempt contract; and

(b)to gas which is—

(i)won or purchased by the Corporation; and

(ii)derived from a tax-exempt reservoir under the authority of a petroleum production licence which is or was held by a person who has agreed to supply gas from that reservoir to the Corporation under a tax-exempt contract or under the authority of a petroleum production licence substituted for such a licence.

(3)In this section—

  • " petroleum production licence " means a licence granted under section 2 of the [1934 c. 36.] Petroleum (Production) Act 1934, including a licence granted under that section as applied by section 1(3) of the [1964 c. 29.] Continental Shelf Act 1964;

  • " tax-exempt contract" means a contract made before the end of June 1975 for the sale to the Corporation of gas won under the authority of a petroleum production licence; and

  • " tax-exempt reservoir" means a natural reservoir, gas derived from which the Corporation was on 1st April 1980 obliged to purchase (whether immediately or at some future date) under terms comprised in a document which on 1st April 1980 was treated for the purposes of paragraph (a) of section 10(1) of the [1975 c. 22.] Oil Taxation Act 1975 as containing the whole or part of a contract for the sale of excluded oil as defined in that subsection.

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