SCHEDULES

SCHEDULE 22Reduction of supplementary charge for certain oil fields

Amendments of Chapter 7 of Part 8 of CTA 2010

16

1

Section 357 (other definitions) is amended as follows.

I12

For the definition of “authorisation day” substitute—

“authorisation day” means—

a

in relation to an additionally-developed oil field, the day when the project mentioned in section 349A(1) is authorised, and

b

in relation to a new oil field, the day when development of the field is authorised as mentioned in section 350(1)(b),

3

After that definition insert—

  • “eligible oil field” means an oil field which is an additionally-developed oil field or a new oil field,

I14

Omit the definition of “initial licensee”.

I15

In the definition of “relevant income”, for “a new oil field” substitute “ an eligible oil field ”.