{
  "url": "https://openlegislation.uk/finance-act-1982/schedule-18/paragraph-5",
  "json_url": "https://openlegislation.uk/finance-act-1982/schedule-18/paragraph-5.json",
  "legislation": "ukpga/1982/39",
  "legislation_title": "Finance Act 1982",
  "legislation_url": "https://openlegislation.uk/finance-act-1982",
  "path": "schedule/18/paragraph/5",
  "kind": "paragraph",
  "number": "5",
  "heading": null,
  "text": "(1) In any case where—\n(a) it appears to the Board that, at some time during the period covered by an election, the market value of ethane to which the election applies has ceased or is ceasing to be readily ascertainable as mentioned in paragraph 2(2) above, and\n(b) the Board give notice of that fact to the party or, as the case may be, each of the parties to the election and in that notice specify a date for the purposes of this paragraph (which may be a date earlier than that on which the notice is given),\nthen, subject to sub-paragraph (2) below, on the date so specified the election shall cease to have effect.\n(2) If—\n(a) within the period of three months beginning on the date of a notice under sub-paragraph (1)(b) above, the party or parties to the elction by notice in writing given to the Board specify a new price formula, and\n(b) the new price formula is accepted by the Board in accordance with paragraph 7 below,\nthe election shall continue to have effect and, subject to paragraph 9 below, for the purpose of determining the market value, on and after the date specified in the notice under sub-paragraph (1)(b) above, of ethane to which the election applies, section 134 of this Act shall have effect as if the new price formula were the formula specified in the election.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1982/39/schedule/18/paragraph/5",
    "retrieved_at": "2026-10-29T10:10:59.328177+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."
}