# Oil Taxation Act 1975, Paragraph 2A

Extent: E+W+S+N.I.

(1) Paragraph 2 above shall have effect in accordance with this paragraph where the oil whose market value falls to be ascertained at any time in accordance with sub-paragraphs (1) to (2I) of that paragraph ... consists of or includes gas.
(1A) Sub-paragraphs (2) and (3) below also apply where the market value of any light gases falls to be ascertained under paragraph 3A below.
(2) Sub-paragraph (2)(d) or (as the case may be) (2AA)(d) of paragraph 2 above or, as the case may require, sub-paragraph (2)(b) of paragraph 3A below shall not apply to so much of the oil as consists of gas unless—
(a) it has been subjected to initial treatment before being disposed of or relevantly appropriated; or
(b) it has, after being disposed of or relevantly appropriated, been subjected to initial treatment by or on behalf of the participator in question or by or on behalf of a person who is connected with him within the meaning of section 1122 of CTA 2010;
and where oil consisting of gas has, whether before or after being disposed of or relevantly appropriated, been subjected to initial treatment by or on behalf of the participator in question or by or on behalf of a person who is connected with him as aforesaid the appropriate initial treatment referred to in sub-paragraph (2)(d) or (2AA) of paragraph 2 above or, as the case may require, sub-paragraph (2)(b) of paragraph 3A belowshall include the treatment to which it has been so subjected.
(3) Where the initial treatment mentioned in sub-paragraph (2) or (2AA) above includes treatment in order to separate gas of one or more kinds which are transported and sold in normal commercial practice, the market value of the gas of each such kind which is separated shall be ascertained in accordance with sub-paragraphs (1) to (2I) of paragraph 2 or, as the case may require, in accordance with paragraph 3A below as if that were the only oil whose market value fell to be ascertained at the time in question ....
(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Source: https://www.legislation.gov.uk/ukpga/1975/22/schedule/3/paragraph/2A (the official version)
Page: https://openlegislation.uk/oil-taxation-act-1975/schedule-3/paragraph-2A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.