The Petroleum Revenue Tax (Nomination Scheme for Disposals and Appropriations) Regulations 1987

Transaction base date

7.—(1) This regulation prescribes the transaction base date for the purposes of paragraph 4 of Schedule 10 in relation to proposed transactions of the kinds described in paragraph 2(1) (a), (b) and (c) of that Schedule.

(2) The transaction base date for a proposed sale shall be determined in accordance with regulation 8.

(3) The transaction base date for a proposed supply or a proposed appropriation shall be the first day of the month immediately preceding the proposed delivery month.