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SCHEDULES

SCHEDULE 15Oil activities: transferable tax history

PART 6Allocation of activated TTH amount

“Total activated TTH amount”

39The “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).