SCHEDULE 1 Oil Activities: New Chapter 16A of Part 2 of ITTOIA 2005
Taxation (International and Other Provisions) Act 2010 (2010 c 8) | Legislation

SCHEDULE 1 Oil Activities: New Chapter 16A of Part 2 of ITTOIA 2005

Section 364

1

ITTOIA 2005 is amended as follows.

2

After section 225 insert—

“Chapter 16A
Oil Activities
Basic definitions
225A Meaning of “oil extraction activitiesâ€

(1)     In this Chapter “oil extraction activities†means activities within any of subsections (2) to (5) (but see also section 225M(6)).

(2)     Activities of a person in searching for oil in the United Kingdom or a designated area or causing such searching to be carried out for that person.

(3)     Activities of a person in extracting, or causing to be extracted for that person, oil at any place in the United Kingdom or a designated area under rights which—

(a)     authorise the extraction, and

(b)     are held by that person.

(4)     Activities of a person in transporting, or causing to be transported for that person, oil extracted at any such place not on dry land under rights which—

(a)     authorise the extraction, and

(b)     are held by that person,

if the transportation meets condition A or B (see subsections (6) and (7)).

(5)     Activities of a person in effecting, or causing to be effected for that person,

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