Part 2

Trading income
Chapter 16A

Oil activities

Basic definitions

Meaning of “ring fence trade”
225D
In this Chapter “
ring fence trade
” means activities which—
a
are within the definition of “oil-related activities” in section 16(2) (oil extraction and related activities), and
b
constitute a separate trade (whether because of section 16(1) or otherwise).
Pt. 2 Ch. 16A inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 1 para. 2 (with Sch. 9 paras. 1-9, 22)