SCHEDULES

SCHEDULE 6Minor and consequential amendments

Part 2Amendments relating to onshore petroleum

Taxation of Chargeable Gains Act 1992 (c. 12)

I121

1

Section 196 of the Taxation of Chargeable Gains Act 1992 is amended as follows.

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;