Section 101 | Pipe-line elections.

(1)In subsection (1)(b) of section 233 of the Finance Act 1994 (relief for tariff receipts from participator in non-taxable field)—

(a)for “a participator in a non-taxable field” there shall be substituted “ any person ”, and

(b)for “in connection with that non-taxable field” there shall be substituted “ otherwise than in connection with a taxable field ”.

(2)Subsection (1) above applies to sums received or receivable in any chargeable period ending on or after 31st December 1999.