{
  "url": "https://openlegislation.uk/area-boards-payments-for-use-of-tax-losses-order-1990/article-4",
  "json_url": "https://openlegislation.uk/area-boards-payments-for-use-of-tax-losses-order-1990/article-4.json",
  "legislation": "uksi/1990/267",
  "legislation_title": "The Area Boards (Payments for Use of Tax Losses) Order 1990",
  "legislation_url": "https://openlegislation.uk/area-boards-payments-for-use-of-tax-losses-order-1990",
  "path": "article/4",
  "kind": "article",
  "number": "4",
  "heading": "Directions to the Area Boards: further payments",
  "text": "(1) The Secretary of State hereby further directs each Area Board to pay to the Generating Board in respect of each relevant accounting period of the Area Board a sum calculated in accordance with the formula–\nA×35100 where–\nA is the amount by which the profits for the accounting period in question on which, on the relevant assumption, the Area Board would have borne corporation tax are increased as the result of a relevant event.\n(2) In paragraph (1) of this article–\n“relevant accounting period” means an accounting period ending before the transfer date in respect of which, on the relevant assumption, the Area Board is liable to pay corporation tax;\n“the relevant assumption” means the assumption mentioned in section 89(2)(a) of the Electricity Act 1989.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1990/267/article/4",
    "retrieved_at": "2026-10-29T15:27:50.096218+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}