# Petroleum and Submarine Pipe-lines Act 1975 (repealed 15/02/1999), Section 40: The National Oil Account.

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

(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2) There shall be paid into the Account, in addition to any sums required to be paid into it by virtue of any other provision of this Act—
(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b) all sums which, after the coming into force of this paragraph, are received by the Secretary of State by virtue of the Petroleum (Production) Act 1934 or from the sale of any petroleum delivered to him under the terms of a licence granted in pursuance of that Act;
(c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3) There shall be paid out of the Account, in addition to any sums required to be paid out of it by virtue of any other provision of this Act,—
(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b) any sums which, after the coming into force of this paragraph, are payable by the Secretary of State by reference to any licence granted in pursuance of the Petroleum (Production) Act 1934;
(c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Source: https://www.legislation.gov.uk/ukpga/1975/74/section/40 (the official version)
Page: https://openlegislation.uk/petroleum-and-submarine-pipe-lines-act-1975-repealed-15021999/section-40
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.