- Latest available (Revised)
- Original (As enacted)
This is the original version (as it was originally enacted).
5(1)After section 12, insert—
(1)This section has effect for the purpose of determining the date on which any oil to which it applies is to be regarded for the purposes of this Part as delivered or relevantly appropriated.
(2)This section applies to—
(a)oil (not being light gases) won from a field and disposed of crude by a participator otherwise than in sales at arm’s length, and
(b)oil (not being light gases) so won and relevantly appropriated by a participator,
if the condition in subsection (3)(a) or (b) below is met.
(3)The condition is that the oil is or has been, or is to be,—
(a)transported by ship from the place of extraction to a place in the United Kingdom or elsewhere, or
(b)transported by pipeline to a place in the United Kingdom and loaded on to a ship there.
(4)The date on which the oil is to be taken to be delivered, or (as the case may be) relevantly appropriated, by the participator is—
(a)the date of completion of load, in a case where the condition in subsection (3)(a) above is met,
(b)the date of the bill of lading, in a case where the condition in subsection (3)(b) above is met.”.
(2)The amendment made by this paragraph has effect in relation to oil which would (apart from this paragraph) fall to be regarded for the purposes of Part 1 of OTA 1975 as delivered or appropriated on a date after 30th June 2006.
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
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.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: