SCHEDULE 21 Modifications of Finance Act 1982, Schedule 18 in Relation to Elections under Section 109 of this Act
Finance Act 1986 (1986 c 41) | Legislation

SCHEDULE 21 Modifications of Finance Act 1982, Schedule 18 in Relation to Elections under Section 109 of this Act

Section 109

General modifications

1

(1)     For any reference in the 1982 Schedule to ethane there shall be substituted a reference to light gases, as defined in section 109 of this Act.

(2)     Except as provided below, any reference in the 1982 Schedule to section 134 of the Finance Act 1982 shall be construed as a reference to section 109 of this Act.

Specific modifications

2

(1)     In paragraph 1 (provisions as to the election), in sub-paragraph (2)(b) for the words “and not exceeding fifteen years†there shall be substituted “or in the case of an election made before 31st December 1986, beginning on 1st July 1986†and for sub-paragraph (2)(d) there shall be substituted—

“(d)     specify the purposes for which the light gases to which the election applies will be applied or used,â€.

(2)     At the end of that paragraph there shall be inserted the following sub-paragraph—

“(4)     If an election relates to light gases, then, in addition to the matters referred to in sub-paragraph (2) above the election shall contain—

(a)     a description of the characteristics

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