196 Interpretation of sections 194 [to [195F]]
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

196  Interpretation of sections 194 [to [195F]]

(1)     For the purposes of section 194 [and this section], a [UK licence] relates to an undeveloped area at any time if—

(a)     for no part of the licensed area has consent for development been granted to the licensee by the [Oil and Gas Authority] [appropriate authority] on or before that time; and

(b)     for no part of the licensed area has a programme of development been served on the licensee or approved by the [Oil and Gas Authority] [appropriate authority] on or before that time.

[(1A)     For the purposes of section 194 a licence other than a UK licence relates to an undeveloped area at any time if, at that time—

(a)     no development has actually taken place in any part of the licensed area; and

(b)     no condition for the carrying out of development anywhere in that area has been satisfied—

(i)     by the grant of any consent by the authorities of a country or territory exercising jurisdiction in relation to the area; or

(ii)     by the approval or service on the licensee, by any such authorities, of any programme of development.]

[(1B)     In sections

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Serving outside the jurisdiction with court permission—application and order

This Practice Note addresses issues when serving out of the jurisdiction and the permission of the court is required. It explains how to make an application and the form of order required. An application to serve out of the jurisdiction is generally made without notice and on the papers. Key

LEXISNEXIS

Mistake in contract law

Mistake in contract lawThis Practice Note considers the legal concept of mistake in contract law. It examines common mistake, mutual mistake, unilateral mistake, mistake as to identity and mistake as to the document signed (non est factum). It also considers the impact of each of these types of

LEXISNEXIS

Negligence—key elements to establish a negligence claim

Negligence—key elements to establish a negligence claimNegligence—what are the key ingredients to establish a claim in negligence?For liability in negligence to be founded, four key ingredients must be present:•duty of care•breach of that duty•damage (which is caused by the breach)•foreseeability of

LEXISNEXIS

A chargor (an individual) is granting a legal charge to a chargee (a company). Can an employee of the

There does not appear to be any evidence that an employee of the chargee cannot witness the chargor’s signature.Practice Note: Property deeds—use and execution of deeds in property transactions, provides guidance on who may witness the signature of a deed by an individual:‘There are certain