Part 8Oil activities
Chapter 6Supplementary charge in respect of ring fence trades
F1330CMeaning of “decommissioning expenditure”
(1)
In sections 330A and 330B “decommissioning expenditure” means expenditure incurred in connection with—
(a)
demolishing any plant or machinery,
(b)
preserving any plant or machinery pending its reuse or demolition,
(c)
preparing any plant or machinery for reuse,
(d)
arranging for the reuse of any plant or machinery, or
(e)
the restoration of any land.
(2)
It is immaterial for the purposes of subsection (1)(b) whether the plant or machinery is reused, is demolished or is partly reused and partly demolished.
(3)
It is immaterial for the purposes of subsection (1)(c) and (d) whether the plant or machinery is in fact reused.
(4)
In subsection (1)(e) “restoration” includes landscaping.
(5)
The Treasury may by order amend this section.
(6)
An order under subsection (5) may include transitional provision and savings.