Part 2 Areas Treated as Continuing to be Oil Fields
Finance Act 2009 (2009 c 10) | Legislation

Part 2 Areas Treated as Continuing to be Oil Fields

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OTA 1975 is amended as follows.

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In section 12(1) (interpretation of Part 1), in the definition of “oil fieldâ€, after “this Act†insert “(which also includes provision about areas that are to be treated as continuing to be oil fields)â€.

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(1)     Schedule 1 (determination of oil fields) is amended as follows.

(2)     Before paragraph 1 insert—

“Areas that are oil fieldsâ€

(3)     After paragraph 5 insert—

“Areas treated as continuing to be oil fields

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(1)     This paragraph applies if an area has ceased to be—

(a)     an oil field within the meaning of paragraph 1(1), or

(b)     part of such an oil field.

(2)     The area is to be treated as continuing to be—

(a)     the oil field, or

(b)     the part of the oil field, that it actually

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