{
  "url": "https://openlegislation.uk/finance-act-1987/schedule-10/paragraph-5B",
  "json_url": "https://openlegislation.uk/finance-act-1987/schedule-10/paragraph-5B.json",
  "legislation": "ukpga/1987/16",
  "legislation_title": "Finance Act 1987",
  "legislation_url": "https://openlegislation.uk/finance-act-1987",
  "path": "schedule/10/paragraph/5B",
  "kind": "paragraph",
  "number": "5B",
  "heading": null,
  "text": "(1) A nomination of a transaction shall not be effective unless oil is delivered pursuant to a contract at arm's length the terms of which incorporate the information specified in the nomination in accordance with paragraph 5(1) or 5A(1).\n(2) But—\n(a) a contract need not refer to the transaction base time, and\n(b) the nomination shall be effective whether or not delivery takes place in the proposed delivery month specified in the nomination and the contract.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 10 paras. 5A, 5B inserted (with effect in accordance with s. 150(14) of the amending Act) by Finance Act 2006 (c. 25), s. 150(7)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1987/16/schedule/10/paragraph/5B",
    "retrieved_at": "2026-10-29T09:52:46.435061+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."
}