Finance Act 2019

The “uplifted decommissioning costs estimate”

8In paragraph 5(b), the “relevant proportion” means—

(a)the proportion that the interest in the TTH oil field which is the TTH asset bears to—

(i)the seller’s other interests in the TTH oil field, if paragraph 7(a) applies, or

(ii)the purchaser’s other interests in the TTH oil field, if paragraph 7(b) applies, or

(b)if the proportion cannot reasonably be determined in accordance with paragraph (a), such other proportion determined on a just and reasonable basis.