[225J Valuation where appropriation to refining etc]
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

[225J  Valuation where appropriation to refining etc]

[(1)     This section applies if conditions A, B and C are met.

(2)     Condition A is that a person appropriates oil acquired by the person—

(a)     in the course of oil extraction activities carried on by the person, or

(b)     as a result of oil rights held by the person.

(3)     Condition B is that the oil is appropriated

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