Textual Amendments
F1Pt. 8ZA inserted (retrospective to 1.4.2014) by Finance Act 2014 (c. 26), Sch. 16 paras. 4, 6
(1)The definitions in this section have effect for the purposes of this Part.
(2)“Oil contractor activities” means activities carried on by a company (“the contractor”), which are not oil-related activities (within the meaning of section 274), but are—
(a)exploration or exploitation activities in, or in connection with, which the contractor provides, operates or uses a relevant asset (see section 356LA) in a relevant offshore service, or
(b)otherwise carried on in, or in connection with, the provision by the contractor of a relevant offshore service.
(3)The contractor provides a “relevant offshore service” if the contractor provides, operates or uses a relevant asset in, or in connection with, the carrying on of exploration or exploitation activities in a relevant offshore area by the contractor or any other associated person.
(4)“Exploration or exploitation activities” means activities carried on in connection with the exploration or exploitation of the seabed and subsoil and their natural resources.
(5)“Relevant offshore area” means—
(a)the territorial sea of the United Kingdom;
(b)the areas designated by Order in Council under section 1(7) of the Continental Shelf Act 1964.]