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Modifications etc. (not altering text)
C1Pt. I construed as one with the following enactments: Finance Act 1986 (c. 41), s. 109 (see s 109(6)); Advance Petroleum Revenue Tax Act 1986 (c. 68, SIF 63:1) (see s. 2(2)); Finance (No. 2) Act 1992 (c. 48), s. 74 (by s. 74(6)); Finance Act 1993, Pt. III (other than s. 194) (see s. 195(3)); Finance Act 1994 (c. 9), Pt. V (see s. 257(2)); Finance Act 1999 (c. 16), ss. 95-98 (see ss. 97(7), 98(7)); Finance Act 2001 (c. 9), Sch. 32 (see s. 101(4)(5), Sch. 32 para. 11)
C2Pt I applied (6.3.1992 with effect as mentioned in s. 289(1)(2) of the amending Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 199(7)(c), 276(5), 289 (with ss. 60, 101(1), 171, 201(3)).
C3Pts. I III modified by Oil Taxation Act 1983 (c. 56), s. 6A (as inserted (22.7.2004) by Finance Act 2004 (c. 12), s. 285(3))
(1)This section has effect for the purpose of determining the date on which any oil to which it applies is to be regarded for the purposes of this Part as delivered or relevantly appropriated.
(2)This section applies to—
(a)oil (not being light gases) won from a field and disposed of crude by a participator otherwise than in sales at arm's length, and
(b)oil (not being light gases) so won and relevantly appropriated by a participator,
if the condition in subsection (3)(a) or (b) below is met.
(3)The condition is that the oil is or has been, or is to be,—
(a)transported by ship from the place of extraction to a place in the United Kingdom or elsewhere, or
(b)transported by pipeline to a place in the United Kingdom and loaded on to a ship there.
(4)The date on which the oil is to be taken to be delivered, or (as the case may be) relevantly appropriated, by the participator is—
(a)the date of completion of load, in a case where the condition in subsection (3)(a) above is met,
(b)the date of the bill of lading, in a case where the condition in subsection (3)(b) above is met.]
Textual Amendments
F1S. 12A inserted (with effect in accordance with Sch. 18 para. 5(2) of the amending Act) by Finance Act 2006 (c. 25), Sch. 18 para. 5(1)