SCHEDULE 22Reduction of supplementary charge for certain oil fields
Consequential amendments
18
(1)
Part 8 of CTA 2010 (oil activities) is amended as follows.
(2)
In section 270 (overview of Part)—
(a)
in subsection (7), for “certain new oil fields” substitute “
eligible oil fields
”
, and
(b)
“(c)
eligible oil field”, see section 357.”
(3)
In section 330 (supplementary charge in respect of ring fence trades), in subsection (5), for “certain new oil fields” substitute “
eligible oil fields
”
.
19
(1)
Schedule 4 to CTA 2010 (index of defined expressions) is amended as follows.
(2)
“eligible oil field (in Chapter 7 of Part 8)
section 357”;
““additionally-developed oil field (in Chapter 7 of Part 8)
section 349A”.
(3)
Omit the entry relating to “initial licensee (in Chapter 7 of Part 8)”.
20
In section 63 of FA 2011 (reduction of supplementary charge for new oil fields), omit subsection (3).