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Legislation
Income Tax (Trading and Other Income) Act 2005

Crossheading Basic definitions

  • Section 225A Meaning of “oil extraction activities”
  • Section 225B Meaning of “oil rights”
  • Section 225C Meaning of “ring fence income”
  • Section 225D Meaning of “ring fence trade”
  • Section 225E Other definitions
  1. Basic definitions
  2. Meaning of “oil rights”

Section 225B | Meaning of “oil rights”

From legislation.gov.uk

In this Chapter “oil rights” means—

(a)rights to oil to be extracted at any place in the United Kingdom or a designated area, or

(b)rights to interests in or to the benefit of such oil.

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