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Finance Act 1994
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- 1994 c. 9
- SCHEDULE 22
- Part I
- Conditions for acceptance of an election
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Changes and effects yet to be applied to Schedule 22 Part I Crossheading Conditions-for-acceptance-of-an-election:
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- s. 13A-16 applied by 1979 c. 7 s. 7C(3) (as substituted) by S.I. 2009/56 Sch. 1 para. 93(2)
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- Blanket amendment text amended by S.I. 2011/1043 art. 3 4
- Blanket amendment text amended by S.I. 2011/1043 art. 3 6
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- s. 10A inserted by 2007 c. 15 Sch. 13 para. 114
- s. 10A omitted by 2008 c. 9 Sch. 43 para. 3(2)
- s. 13A inserted by S.I. 2009/56 Sch. 1 para. 198
- s. 14A inserted by S.I. 2009/56 Sch. 1 para. 200
- s. 15A-15F inserted by S.I. 2009/56 Sch. 1 para. 202
- s. 59A-59G inserted by S.I. 2009/56 Sch. 1 para. 206
- s. 227A inserted by 2007 c. 11 s. 33(1)
- s. 227A(5) words substituted by 2010 c. 4 Sch. 1 para. 283
- s. 227B inserted by 2007 c. 11 s. 43(1)
- s. 828(3) excluded by 2005 c. 22 s. 45(10)
- Sch. 5A inserted by 2009 c. 10 Sch. 5 para. 5
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- S.I. 2006/201 art. 2 commences (2004 c. 12)
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- S.I. 2003/708 art. 2 commences (2001 c. 16)
- S.I. 2003/962 art. 2 commences (2002 c. 21)
- S.I. 2003/2093 art. 2 commences (2002 c. 40)
- S.I. 2005/950 art. 2-4 commences (2003 c. 44)
- S.I. 2005/1126 art. 2 commences (2005 c. 11)
- S.I. 2005/1523 art. 2 commences (1995 c. 4)
- S.I. 2005/2122 art. 2 amendment to earlier commencing SI 2005/950 Sch. 2 para. 23
- S.I. 2005/3337 art. 2 3 commences (2005 c. 22)
- S.I. 2007/2172 art. 2 commences (2007 c. 11)
- S.I. 2007/2483 art. 2-4 commences (2007 c. 11)
- S.I. 2008/2302 art. 2 commences (1998 c. 36)
- S.I. 2008/2504 art. 2 commences (2007 c. 27)
- S.I. 2009/403 art. 2 commences (2008 c. 9)
- S.I. 2009/404 art. 2 commences (2008 c. 9)
- S.I. 2009/511 art. 2 commences (2008 c. 9)
- S.I. 2009/571 art. 2-5 commences (2008 c. 9)
- S.I. 2009/1022 art. 2 commences (1998 c. 36)
- S.I. 2009/2094 art. 2 commences (2005 c. 22)
- S.I. 2010/815 art. 2 commences (2009 c. 10)
- S.I. 2010/867 art. 2 commences (2009 c. 10)
- S.I. 2011/777 art. 2 commences (2010 c. 33)
- S.R. 2006/21 art. 2 commences (S.I. 2005/1455 (N.I.))
- S.R. 2006/22 art. 2-7 transitional provisions for effects of SR 2006/21
- S.R. 2006/63 art. 2 commences (S.I. 2004/1501 (N.I.))
Conditions for acceptance of an electionE+W+S+N.I.
2(1)The Board shall reject an election if they are not satisfied—E+W+S+N.I.
(a)that the conditions relating to the pipe-line in paragraphs (a) to (d) of subsection (1) or in subsection (3) of section 231 of this Act are fulfilled; or
(b)that the conditions relating to the oil field or the participator in subsection (2) of that section are fulfilled; or
(c)that, if the election were to be accepted, the assets to which the election would apply (having regard to any limitation under subsection (6) of that section) have the capacity and characteristics, and are otherwise suitable, to handle the quantities and descriptions of oil specified in accordance with paragraph 1(1)(d) above.
(2)Subject to sub-paragraph (3) below, the Board shall also reject an election if it appears to them—
(a)that any of the information required to be contained in the election by virtue of paragraph 1(1) above is incorrect; or
(b)that, after receiving notice in writing from the Board, the electing participator has failed to furnish to the Board on or before the specified date any information which the Board have reasonably required either with respect to the matters specified in paragraph 1(1) above or for the purpose of satisfying themselves as to the matters referred to in sub-paragraph (1) above.
(3)Before rejecting an election under sub-paragraph (2)(a) above the Board may, if they think fit, by notice in writing give the electing participator an opportunity to correct any error in the information and, if he does so, the information shall then be treated as having been provided in the correct form.
(4)In sub-paragraph (2)(b) above “the specified date” means such date as may be specified in the notice concerned, being a date not earlier than one month after the date on which the notice was given.
(5)A notice under sub-paragraph (2)(b) above shall be given within the period of three months beginning on the date on which the election was received by the Board.
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