SCHEDULES

SCHEDULE 44Supplementary charge: reduction for certain new oil fields

Part 2Pool of field allowances

Carrying part of pool of field allowances into following period

3

(1)

This paragraph applies if—

(a)

a company has a pool of field allowances for an accounting period (“accounting period 1”), and

(b)

the company's adjusted ring fence profits for accounting period 1 are reduced to nil in accordance with paragraph 1(2).

(2)

A part of the company's pool of field allowances for accounting period 1 is to be carried into the following accounting period (“accounting period 2”).

(3)

The part to be carried into accounting period 2 is—

F-Pmath

where—

F is the amount of the company's pool of field allowances for accounting period 1, and

P is the amount of the adjusted ring fence profits for accounting period 1.