Section 104 | Allowance of unrelievable loss from abandoned field

(1)In section 6 of the Oil Taxation Act 1975 (c. 22) (allowance of unrelievable loss from abandoned field), after subsection (4) insert—

(4A)For the purposes of this section and Schedule 8 to this Act, the winning of oil from an oil field shall not be regarded as having permanently ceased until all the oil wells in the field have been permanently abandoned.

(2)The amendment made by subsection (1) is deemed to have come into force on 1st July 2007.