PART 2

Oil

Decommissioning relief agreements

Meaning of “decommissioning expenditure”
81
1
In section 80 “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.
7
The power to make an order under subsection (5) is exercisable by statutory instrument.
8
A statutory instrument containing an order under subsection (5) is subject to annulment in pursuance of a resolution of the House of Commons.