SCHEDULES

SCHEDULE 15Oil activities: transferable tax history

PART 6Allocation of activated TTH amount

39“Total activated TTH amount”

The “total activated TTH amount” held by the purchaser for a loss period which is a post-activation period is the lower of—

a

the adjusted activated TTH amount (see paragraphs 40 to 42), and

b

the closing balance of the total TTH amount for the immediately preceding accounting period (see paragraph 49).