Paragraph 6

(1)

Section 165 (abandonment expenditure within 3 years of ceasing ring fence trade) is amended as follows.

(2)

In the heading, for “abandonment expenditure” substitute “ general decommissioning expenditure ”.

(3)

In subsection (1)(b) and (c), for “abandonment expenditure” substitute “ general decommissioning expenditure ”.

(4)

In subsection (3)—

(a)

in paragraph (a), for “relevant abandonment cost” substitute “ relevant decommissioning cost ”, and

(b)

in paragraph (b), for “abandonment expenditure” substitute “ general decommissioning expenditure ”.

(5)

In subsection (4), in the definition of “the relevant abandonment cost”—

(a)

for “relevant abandonment cost” substitute “ relevant decommissioning cost ”, and

(b)

for “abandonment expenditure”, in each place, substitute “ general decommissioning expenditure ”.