PART 4Transfer to the OGA of the Secretary of State’s functions under oil taxation legislation, and other consequential amendments
Oil Taxation Act 19754
1
The Oil Taxation Act 197517 is amended as follows.
2
In section 2(7)(c) (assessable profits and allowable losses), for “Secretary of State” substitute “OGA”.
3
In section 3 (allowance of general expenditure), for “Secretary of State” (in each place) substitute “OGA”.
4
In section 5A18 (allowance of exploration and appraisal expenditure), for “Secretary of State” (in each place) substitute “OGA”.
5
In section 10(3B)19 (modification of Part 1)—
a
for “Secretary of State” substitute “OGA”, and
b
for “him” substitute “it”.
6
In section 12 (interpretation of Part 1)—
a
in subsection (1)—
i
in paragraph (b) of the definition of “licensee”, for “Secretary of State” substitute “OGA”, and
ii
at the appropriate place insert—
“the OGA” means the Oil and Gas Authority;
b
in subsection (1A)(a)(ii)20, for “Secretary of State” substitute “OGA”, and
c
in subsection (4), after “Secretary of State” insert “or the OGA”.
7
In Schedule 1 (determination of oil fields), in paragraph 1(2), for “Secretary of State” (in each place) substitute “OGA”.
8
In Schedule 2 (management and collection of petroleum revenue tax), in paragraph 2(2)(c) and (3)(d) for “Secretary of State” substitute “OGA”.
9
In Schedule 3 (petroleum revenue tax: miscellaneous provisions), in paragraph 4, for “Secretary of State” substitute “OGA”.
Finance Act 19815
1
Section 118 of the Finance Act 198121 (licence payments other than royalties) is amended as follows.
2
In subsection (1)—
a
in paragraph (a), after “Secretary of State” insert “or the OGA”, and
b
in paragraph (b), for “Secretary of State” substitute “OGA”.
3
In subsection (2)—
a
after “Secretary of State” (in the first place) insert “or the OGA”,
b
for “Secretary of State” (in the second place) substitute “OGA”, and
c
in paragraph (b), for “Secretary of State” substitute “OGA”.
Finance Act 19826
1
The Finance Act 198222 is amended as follows.
2
In section 140 (increase of gross profit by reference to royalties in kind), for “Secretary of State” (in each place) substitute “OGA”.
3
In Schedule 19 (supplementary provisions relating to APRT), in paragraph 3(1)(a)23, for “Secretary of State” substitute “OGA”.
Finance Act 19837
In section 36(3)(b) of the Finance Act 198324 (increased oil allowance for certain new fields), for “Secretary of State” substitute “OGA”.
Finance Act 19848
In section 113(5)(b) of the Finance Act 198425 (restriction on PRT reliefs), for “Secretary of State” substitute “OGA”.
Finance Act 19879
1
The Finance Act 198726 is amended as follows.
2
In Schedule 10 (nomination scheme for disposals and appropriations), in paragraph 1(3)27—
a
for “Secretary of State” substitute “OGA”, and
b
for “him” substitute “it”.
3
In Part 3 of Schedule 14 (relevant new fields and associated companies), in paragraph 8(2)(b), for “Secretary of State” substitute “OGA”.
Finance Act 198810
In section 138(3)(b) of the Finance Act 198828 (reduced oil allowance for certain Southern Basin and onshore fields), for “Secretary of State” substitute “OGA”.
Taxation of Chargeable Gains Act 199211
In section 196 of the Taxation of Chargeable Gains Act 199229 (definitions relating to UK licences), for “Secretary of State” (in each place) substitute “Oil and Gas Authority”.
Finance Act 199312
Petroleum Act 199813
1
Part 1 of the Petroleum Act 1998 is amended as follows.
2
In section 4(4) (licences: notice of grant)—
a
for “Secretary of State” substitute “OGA”,
b
for “the London Gazette” substitute “such manner as it thinks appropriate”, and
c
omit the words from “and, if that area” to the end.
3
In section 4A(1)32 (onshore hydraulic fracturing: safeguards), for “Secretary of State” in the first place substitute “OGA”.
4
In section 4B(8)33 (section 4A: supplementary provisions), in the definition of “well consent”, for “Secretary of State” substitute “OGA”.
Capital Allowances Act 200114
In section 556(2)(a) of the Capital Allowances Act 200134 (disposals of oil licences: definitions), for “Secretary of State” substitute “Oil and Gas Authority”.
Corporation Tax Act 201015
1
The Corporation Tax Act 201035 is amended as follows.
2
In section 278 (general definitions for Part 8), at the appropriate place insert—
“the OGA” means the Oil and Gas Authority,
3
In section 332DA(5)36 (restriction where field qualified for field allowances as new field), for “Secretary of State” substitute “OGA”.
4
In section 332DB(5) (restriction where project in additionally-developed field qualified for field allowance), for “Secretary of State” substitute “OGA”.
5
In section 356IB(2)37 (authorisation of development: oil fields), in paragraph (a) of the definition of “national authority”, for “Secretary of State” substitute “OGA”.
6
In section 356J(4)38, (authorisation of development: drilling and extraction sites), in paragraph (a) of the definition of “national authority”, for “Secretary of State” substitute “OGA”.
7
In section 356JD39 (meaning of “cluster area”), for “Secretary of State” (in each place) substitute “OGA”.
8
In Schedule 4 (index of defined expressions), at the appropriate place, insert—
the OGA (in Part 8)
section 278
Scotland Act 201616
1
Section 48 of the Scotland Act 201640 (onshore petroleum: consequential amendments) is amended as follows.
2
In subsection (19), for ““Secretary of State”” substitute ““OGA””.
3
In subsection (20), for “Secretary of State” (in each place) substitute “OGA”.