Paragraph 1

“the principal Act” means the M1Oil Taxation Act 1975;

“statement”, in relation to an oil field and a chargeable period, means the statement delivered by a participator in that oil field in respect of that period under section 1(1)(a) of the M2Petroleum Revenue Tax Act 1980;

“the material date”, in relation to a participator in an oil field, means the date on which he delivers his statement in respect of that field for the chargeable period ending on 31st December 1986; and

“section 111” means section 111 of the M3Finance Act 1981 (restriction of expenditure supplement).