PART 4Transfer to the OGA of the Secretary of State’s functions under oil taxation legislation, and other consequential amendments

Finance Act 1981

5.—(1) Section 118 of the Finance Act 1981(1) (licence payments other than royalties) is amended as follows.

(2) In subsection (1)—

(a)in paragraph (a), after “Secretary of State” insert “or the OGA”, and

(b)in paragraph (b), for “Secretary of State” substitute “OGA”.

(3) In subsection (2)—

(a)after “Secretary of State” (in the first place) insert “or the OGA”,

(b)for “Secretary of State” (in the second place) substitute “OGA”, and

(c)in paragraph (b), for “Secretary of State” substitute “OGA”.