Part 3

Property income
Chapter 8

Rent receivable in connection with a UK section 12(4) concern

Mineral royalties

Extended meaning of “mineral royalties” etc. in Northern Ireland
342
1
In the application of this Chapter to Northern Ireland references to mineral royalties include the following periodical payments.
2
The payments are—
a
payments of compensation under section 29 or 35 of the Mineral Development Act (Northern Ireland) 1969 (c. 35 (N.I.)) (“the 1969 Act”),
b
payments of compensation under section 4 of the Petroleum (Production) Act (Northern Ireland) 1964 (c. 28 (N.I.)) (“the 1964 Act”),
c
payments made as mentioned in section 37 of the 1969 Act,
d
payments made under section 55(4)(b) of the 1969 Act, and
e
payments made under section 11 of the 1964 Act (payments in respect of minerals to persons entitled to a share of royalties under section 13(3) of the Irish Land Act 1903 (c. 37)).
3
In the application of this Chapter to Northern Ireland references to the mineral lease or agreement under which mineral royalties are receivable include the enactment under which those payments are made.