SCHEDULES
SCHEDULE 15Oil activities: transferable tax history
PART 10TTH elections: effective date and withdrawal
71Effective date of a TTH election
1
A TTH election in respect of a TTH asset—
a
b
continues to have effect indefinitely in relation to seller, and
c
continues to have effect in relation to the purchaser unless it is withdrawn in accordance with the provisions of this Schedule.
2
References in this Schedule to the “effective date of a TTH election” are to be construed in accordance with sub-paragraph (1)(a).