SCHEDULES
SCHEDULE 15Oil activities: transferable tax history
PART 15Interpretation
100“Licensed area” and “transferred oil field”
In this Schedule—
a
references to the “licensed area” are references to the area to which the UK oil licence mentioned in paragraph 1 applies, and
b
references to a “transferred oil field” are references to an oil field, or such part of an oil field, that falls within the licensed area.