# Finance Act 2013, Paragraph 3


In Schedule 3 to OTA 1975 (petroleum revenue tax: miscellaneous provisions), in paragraph 8 (certain subsidised expenditure to be disregarded), after sub-paragraph (1) insert—
“(1A) But sub-paragraph (1) above does not apply to any expenditure for which the relevant participator is liable that has been or is to be met directly or indirectly out of a payment made by the guarantor under an abandonment guarantee.
(1B) In sub-paragraph (1A) above—
“abandonment guarantee” has the same meaning as it has for the purposes of section 3 of this Act (see section 104 of the Finance Act 1991), and
“the guarantor” and “the relevant participator” have the same meaning as in section 104 of that Act.”

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Source: https://www.legislation.gov.uk/ukpga/2013/29/schedule/31/paragraph/3 (the official version)
Page: https://openlegislation.uk/finance-act-2013/schedule-31/paragraph-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.