# Finance Act 1988, Section 139: Assets generating tariff receipts: extension of allowable expenditure.


(1) In Part I of Schedule 1 to the Oil Taxation Act 1983 (extensions of allowable expenditure for assets generating receipts) paragraph 3 (expenditure on enhancing the value of assets no longer in use for the principal field) shall be amended as follows—
(a) in sub-paragraph (1)(a) after the words “enhancing the value of” there shall be inserted “ or otherwise in connection with ”;
(b) in sub-paragraph (1)(d) for the words “the expenditure” there shall be substituted “ either the use of the asset ” and after the words “tariff receipts or” there shall be inserted “ the expenditure ”.
(2) This section shall have effect with respect to expenditure incurred on or after 15th March 1988.

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Source: https://www.legislation.gov.uk/ukpga/1988/39/section/139 (the official version)
Page: https://openlegislation.uk/finance-act-1988/section-139
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.