(1)This Part is about the corporation tax treatment of oil activities.
(2)Chapter 2 contains basic definitions used in this Part.
(3)Chapter 3 treats oil-related activities as a separate trade.
(4)Chapter 4 makes provision about the calculation of profits from oil activities.
(5)Chapter 5 makes provision about ring fence expenditure supplement.
(6)Chapter 6 makes provision about the supplementary charge in respect of ring fence trades.
(7)Chapter 7 makes provision about the reduction of the supplementary charge for certain new oil fields.
(8)For the meaning of—
(a)“oil-related activities”, see section 274,
(b)“ring fence trade”, see section 277, and
(c)“new oil field”, see section 350.