{
  "url": "https://openlegislation.uk/finance-act-2006/schedule-26/part-5",
  "json_url": "https://openlegislation.uk/finance-act-2006/schedule-26/part-5.json",
  "legislation": "ukpga/2006/25",
  "legislation_title": "Finance Act 2006",
  "legislation_url": "https://openlegislation.uk/finance-act-2006",
  "path": "schedule/26/part/5",
  "kind": "part",
  "number": "5",
  "heading": "Oil",
  "text": "(1) New basis for determining the market value of oil\n1 The repeal in Schedule 8 to F(No.2)A 1987 has effect for chargeable periods beginning on or after 1st July 2006.\n2 The other repeals have effect in accordance with section 146 of this Act.\nShort title and chapter\nExtent of repeal\nOil Taxation Act 1975 (c. 22)\nIn section 5A(5C), paragraph (a) and the word “and” at the end of paragraph (b).\nIn Schedule 3, paragraph 2(3) and, in paragraph 2A,—\n(a)in sub-paragraph (1), the words “, or in accordance with those sub-paragraphs as modified by sub-paragraph (3) of that paragraph,”;(b) in sub-paragraph (3), the words “(with sub-paragraphs (2)(f) of paragraph 2 applying accordingly)”.\nFinance Act 1983 (c. 28)\nSection 38.\nFinance Act 1987 (c. 16)\nSection 62(2)(c).\nIn Schedule 11—\n(a)paragraph 1(3) to (7);\n(b)paragraphs 3 to 5.\nFinance (No. 2) Act 1987 (c. 51)\nIn section 101—\n(a)in subsection (5) the words “, subject to subsection (6) below”; and\n(b)subsection (6).\nIn Schedule 8, paragraph 5.\nFinance (No. 2) Act 1992 (c. 48)\nIn Schedule 15, paragraph 4(1).\nFinance Act 1994 (c. 9)\nSection 235(1)(d) and (2).\n(2) Nomination scheme\nThese repeals shall come into force in accordance with the provisions of sections 149 and 150 of this Act.\nShort title and chapter\nExtent of repeal\nFinance Act 1987 (c. 16)\nIn section 61(1) the words “, supplies and appropriations”.\nSection 61(6) and (7).\nIn section 61(9) the words “subsection (7) or”.\nIn paragraph 1(1) of Schedule 10 the words “, “proposed supply” and “proposed appropriation””.\nParagraph 1(2) of Schedule 10.\nParagraph 2(1)(b), (c) and (d) of Schedule 10.\nThe words following paragraph 2(1)(d) of Schedule 10.\nParagraph 3 of Schedule 10.\nParagraph 4(2), (2A) and (4) of Schedule 10.\nIn paragraph 5(1)(b) of Schedule 10, the words “in the case of a proposed sale”.\nIn paragraph 5(1)(c) and (d) of Schedule 10, the words “or relevantly appropriated”.\nIn paragraph 6 of Schedule 10—\n(a)in sub-paragraph (1), the words “Subject to sub-paragraph (3) below,” and\n(b)sub-paragraphs (2) and (3).\nParagraphs 8 to 11 of Schedule 10.\nIn paragraph 12(1) of Schedule 10, the words “, supply or appropriation”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2006/25/schedule/26/part/5",
    "retrieved_at": "2026-10-29T09:14:22.939634+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."
}