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Contents

Legislation
Corporation Tax Act 2010

Crossheading Introduction

  • Section 356B Overview
  • Section 356BA “Onshore oil-related activities”
  • Section 356BB The activities
  • Section 356BC “Site”
  1. Introduction
  2. “Onshore oil-related activities”

Section 356BA | “Onshore oil-related activities”

From legislation.gov.uk

(1)In this Chapter “onshore oil-related activities” means activities of a company which are carried on onshore and—

(a)fall within any of subsections (1) to (4) of section 356BB, or

(b)consist of the acquisition, enjoyment or exploitation of oil rights.

(2)Activities of a company are carried on “onshore” if they are authorised—

(a)under a landward licence under Part 1 of the Petroleum Act 1998 or the Petroleum (Production) Act 1934, or

(b)under a licence under the Petroleum (Production) Act (Northern Ireland) 1964.

(3)In subsection (2)(a) “landward licence” means a licence in respect of an area which falls within the definition of “landward area” in the regulations pursuant to which the licence was applied for.

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