4U.K.Oil delivered to the [F1OGA] under the terms of a licence granted under [F2Part I of the Petroleum Act 1998]shall be disregarded for the purposes of section 2(5) of this Act and for the purposes of the references in section 8(3) and (4) of this Act to a participator’s share of the oil won and saved from an oil field in a chargeable period.
Textual Amendments
F1Word in Sch. 3 para. 4 substituted (1.10.2016) by The Petroleum (Transfer of Functions) Regulations 2016 (S.I. 2016/898), regs. 1(2), 4(9)
F2Words in Sch. 3 para. 4 substituted (15.2.1999) by 1998 c. 17, s. 50, Sch. 4 para. 7(7) (with Sch. 3 para. 5(1)); S.I. 1999/161, art. 2(1)