Part 15 Interpretation
Finance Act 2019 (2019 c 1) | Legislation

Part 15 Interpretation

Introductory

97

The following definitions apply for the purposes of this Schedule.

98

Expressions used in this Schedule that are defined for the purposes of Part 8 of CTA 2010 (oil activities) have the same meaning in this Schedule as in Part 8 of that Act.

“UK oil licence”

99

“UK oil licence” means a licence granted under—

(a)     Part 1 of the Petroleum Act 1998, or

(b)     the Petroleum (Production) Act (Northern Ireland) 1964 (c 28 (NI)).

“Licensed area” and “transferred oil field”

100

In this Schedule—

(a)     references to the “licensed area” are references to the area to which the UK oil licence mentioned in paragraph 1 applies, and

(b)     references to a “transferred oil field” are references to an oil field, or such part of an oil field, that falls within the licensed area.

“Licence transfer date”

101

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