21(1)Section 196 of the Taxation of Chargeable Gains Act 1992 is amended as follows.U.K.
(2)In subsection (1)(a) and (b), for ““Oil and Gas Authority”” substitute “ appropriate authority ”.
(3)Omit subsection (3).
(4)In subsection (5), after ““section—”” insert—
““"appropriate authority””, in relation to a UK licence means—
(a)in the case of a licence under Part 1 of the Petroleum Act 1998—
(i)the Welsh Ministers, in relation to the Welsh onshore area (as defined in section 8A of that Act);
(ii)otherwise, the Oil and Gas Authority;
(b)in the case of a licence under the Petroleum (Production) Act (Northern Ireland) 1964, the Department for the Economy;”.
Commencement Information
I1Sch. 6 para. 21 in force at 1.10.2018 by S.I. 2017/1179, reg. 4(b)