Finance Act 2009 (c. 10)

SCHEDULES

SCHEDULE 42 PRT: former licensees and former oil fields

Part 1 Persons who cease to be licensees because of cessation events

3 In Schedule 5 (allowance of expenditure other than abortive exploration expenditure), in paragraph 2C(2)—

(a) in the definition of “current participator”, after “paragraph (a),” insert “(aa),”, and

(b) in paragraph (b) of the definition of “former participator”, after “paragraph (a),” insert “(aa),”.