{
  "url": "https://openlegislation.uk/finance-act-1980/schedule-17/paragraph-20",
  "json_url": "https://openlegislation.uk/finance-act-1980/schedule-17/paragraph-20.json",
  "legislation": "ukpga/1980/48",
  "legislation_title": "Finance Act 1980",
  "legislation_url": "https://openlegislation.uk/finance-act-1980",
  "path": "schedule/17/paragraph/20",
  "kind": "paragraph",
  "number": "20",
  "heading": null,
  "text": "Where in pursuance of the transfer of the whole or part of his interest in the field the old participator transfers his right to any oil already won from the field to the new participator, that oil—\n(a) shall not be taken into account under section 2(5) in computing the old participator’s assessable profit or allowable loss in the transfer period; but\n(b) shall be taken into account under section 2(5) in computing the new participator’s assessable profit or allowable loss as if it were included in his share of the oil won from the field.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1980/48/schedule/17/paragraph/20",
    "retrieved_at": "2026-10-29T10:15:13.396678+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."
}