# Oil Taxation Act 1983, Paragraph 4


(1) Consideration falling within subsection (1) of the principal section constitutes a receipt for which a participator in a foreign field is accountable if, and only if,—
(a) on the relevant assumptions, and
(b) on the further assumption that the field asset which gives rise to the consideration is a qualifying asset,
the consideration would constitute, for the purposes of this Act, a tariff receipt or disposal receipt of the participator attributable to the foreign field.
(2) In applying section 7 of this Act to determine whether any consideration falling within subsection (1)(c) of the principal section would, on the assumptions in sub-paragraph (1) above, constitute a disposal receipt, the reference in section 7(4)(b) of this Act to tariff receipts of the participator shall be construed as a reference to consideration falling within paragraph (a) or paragraph (b) of subsection (1) of the principal section which, on those assumptions, would constitute a tariff receipt of his.

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Source: https://www.legislation.gov.uk/ukpga/1983/56/schedule/4/paragraph/4 (the official version)
Page: https://openlegislation.uk/oil-taxation-act-1983/schedule-4/paragraph-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.