1.Section 90 extends the meaning of ‘general decommissioning expenditure’ for plant and machinery allowances to include onshore assets used for the purposes of offshore oil and gas production. This enables the special allowance which is available for decommissioning expenditure in respect of offshore assets to apply to such onshore assets.
Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
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