80 Decommissioning relief agreements
Finance Act 2013 (2013 c 29) | Legislation

Part 2 Oil

Decommissioning relief agreements

80  Decommissioning relief agreements

(1)     There are to be paid out of money provided by Parliament any sums which a Minister of the Crown is liable to pay under a decommissioning relief agreement.

(2)     A “decommissioning relief agreement” is an agreement which—

(a)     is made between a Minister of the Crown and a qualifying company, and

(b)     provides that, in such circumstances as are specified in the agreement, if the amount of tax relief in respect of any decommissioning expenditure incurred by that or another qualifying company is less than an amount determined in accordance with the agreement (“the reference amount”), the difference is payable to the company that incurred the expenditure.

(3)     “Qualifying company” means—

(a)     any company

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