Section 101 Pipe-line elections.

(1)

In subsection (1)(b) of section 233 of the M1Finance Act 1994 (relief for tariff receipts from participator in non-taxable field)—

(a)

for “a participator in a non-taxable field” there shall be substituted “ any person ”, and

(b)

for “in connection with that non-taxable field” there shall be substituted “ otherwise than in connection with a taxable field ”.

(2)

Subsection (1) above applies to sums received or receivable in any chargeable period ending on or after 31st December 1999.

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