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The Hydrocarbon Oil (Payment of Rebates) Regulations 1996
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- 1996 No. 2313
- SCHEDULE 2
- Regulation 3
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3. The rate of net excise duty (for the purposes of paragraph 1(b) and (c) above) shall be calculated in accordance with the formula F−G where—
(a)F is the rate of excise duty charged by section 6(1) of the Act on a litre of heavy oil when the change (envisaged by regulation 6(2)(b) of these Regulations) takes legal effect, expressed as pence per litre; and
(b)G is the rate of rebate of the excise duty allowed on a litre of gas oil (in accordance with the rebate scheme of section 11 of the Act for gas oil) when the above-mentioned change takes legal effect, expressed as pence per litre.
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