{
  "url": "https://openlegislation.uk/petroleum-revenue-tax-act-1980/schedule/paragraph-3",
  "json_url": "https://openlegislation.uk/petroleum-revenue-tax-act-1980/schedule/paragraph-3.json",
  "legislation": "ukpga/1980/1",
  "legislation_title": "Petroleum Revenue Tax Act 1980",
  "legislation_url": "https://openlegislation.uk/petroleum-revenue-tax-act-1980",
  "path": "schedule/paragraph/3",
  "kind": "paragraph",
  "number": "3",
  "heading": null,
  "text": "The amount of any assessable profit resulting from the computation under paragraph 2 above may be reduced by any allowable loss in accordance with section 7(1) and shall be reduced in accordance with section 8 by reference to the participator’s share, if any, of the oil allowance for the chargeable period.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1980/1/schedule/paragraph/3",
    "retrieved_at": "2026-10-29T10:16:56.426214+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}