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Legislation

Taxation of Chargeable Gains Act 1992

Crossheading Oil exploration and exploitation

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Section 193 Roll-over relief not available for gains on oil licences.
Section 194 Disposals of oil licences relating to undeveloped areas.
Section 195 Allowance of certain drilling expenditure etc.
Section 195A Oil licence swaps
Section 195B Licence-consideration swap
Section 195C Company that receives mixed consideration: N exceeds C
Section 195D Company that receives mixed consideration: N does not exceed C
Section 195E Company that gives mixed consideration
Section 195F Reimbursed expenditure
Section 196 Interpretation of sections 194 to 195F .
Section 197 Disposals of interests in oil fields etc: ring fence provisions.
Section 198 Replacement of business assets used in connection with oil fields.
Section 198A Ring fence reinvestment: whole consideration reinvested
Section 198B Ring fence reinvestment: part of consideration reinvested
Section 198C Provisional application of sections 198A and 198B
Section 198D No double claims
Section 198E Ring fence reinvestments and disposal consideration
Section 198F Qualification for roll-over relief
Section 198G Qualification for section 153 relief
Section 198H Acquisition by member of same group
Section 198I Exploration, appraisal and development expenditure
Section 198J Oil and gas: reinvestment after pre-trading disposal
Section 198K Provisional application of section 198J
Section 198L Expenditure by member of same group
Section 199 Exploration or exploitation assets: deemed disposals
Section 200 Limitation of losses on disposal of oil industry assets held on 31st March 1982.

Oil exploration and exploitation
Roll-over relief not available for gains on oil licences.

Section 193 | Roll-over relief not available for gains on oil licences.

From legislation.gov.uk

Provision repealed

The source marks this provision as repealed and does not provide content for this version.

Repealed^F1

Notes

F1
S. 193 repealed (with effect in accordance with s. 103(2) of the amending Act) by Finance Act 1999 (c. 16), s. 103(1), Sch. 20 Pt. IV(2)