Paragraph 6 C1
United Kingdom
F1... in the case of a proposed sale, the “nominated price”, in relation to the oil which is to be delivered pursuant to the sale, is the price specified in the contract of sale (expressed as a unit price) or, as the case may be, the formula under which, in accordance with the contract, the price for that oil (as so expressed) is to be determined.
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Annotations
Textual amendments
- F1
Words in Sch. 10 para. 6(1) repealed (with effect in accordance with s. 150(14) of the amending Act) by Finance Act 2006 (c. 25), s. 150(8)(a), Sch. 26 Pt. 5(2)
- F2
Sch. 10 para. 6(2) repealed (with effect in accordance with s. 150(14) of the amending Act) by Finance Act 2006 (c. 25), s. 150(8)(b), Sch. 26 Pt. 5(2)
- F3
Sch. 10 para. 6(3) repealed (with effect in accordance with s. 150(14) of the amending Act) by Finance Act 2006 (c. 25), s. 150(8)(b), Sch. 26 Pt. 5(2)
Modifications
- C1
See S.I. 1987 No. 1338 (in Part III) regn. 18 for conversion of nominated price into sterling
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”)