21In section 1 of the M1Petroleum Revenue Tax Act 1980 (payments on account of petroleum revenue tax)—E+W+S+N.I.
(a)at the end of paragraph (b) of subsection (1) (computation of payments) there shall be added the words “ less an amount equal to his APRT credit for that chargeable period in respect of that oil field. ”; and
(b)in subsection (3) (repayment of excess) after the words “tax so charged” there shall be inserted the words “ less the amount of the APRT credit deducted in accordance with subsection (1)(b) above from the tax shown in the statement ”; and
(c)the following subsections shall be inserted after subsection (3)—
“(3A)In subsections (1) and (3) above “APRT credit” has the meaning given by section 139(4) of the Finance Act 1982.
(3B)Paragraphs 3, 8 and 9 of Schedule 2 to the principal Act (penalties for failure to make returns under paragraph 2 of that Schedule) shall apply in relation to statements required to be made under subsection (1)(a) above as they apply in relation to returns required to be made under paragraph 2 of that Schedule.”
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