Part 1 Persons Who Cease to be Licensees Because of Cessation Events
Finance Act 2009 (2009 c 10) | Legislation

SCHEDULE 42 PRT: Former Licensees and Former Oil Fields

Section 88

Part 1 Persons Who Cease to be Licensees Because of Cessation Events

1

OTA 1975 is amended as follows.

2

(1)     Section 12 (interpretation of Part 1) is amended as follows.

(2)     In subsection (1), in the definition of “participatorâ€â€”

(a)     for “anyâ€, in the first place, substitute “aâ€,

(b)     after paragraph (a) insert—

“(aa)     a person who is no longer a licensee in respect of any licensed area wholly or partly included in the field, but who—

(i)

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