Paragraph 12A F1
For the purposes of section 61 and this Schedule—
(a)
a reference to the proposed delivery month in relation to a proposed transaction is a reference to the month in which delivery is to take place,
(b)
“ relevant delivery ” means a delivery of oil under a contract made at arm's length in respect of which there has been no effective nomination, and
(c)
“ delivery proceeds ” means the price received for a relevant delivery.
Annotations
Textual amendments
- F1
Sch. 10 para. 12A and cross-heading inserted (with effect in accordance with s. 150(14) of the amending Act) by Finance Act 2006 (c. 25), s. 150(13)
Notes on Schedule 10
Modifications
- C1
For regulations supplementing and modifying Sch. 10 for certain cases see Part III (under “Petroleum Revenue Tax: nomination scheme for disposals and appropriations”)