# Taxation (International and Other Provisions) Act 2010, Section 451: Oil and gas


(1) For the purposes of this Part any amount which is, or is taken into account in calculating—
(a) the ring fence income of a company within the meaning of section 275 of CTA 2010, or
(b) a company's aggregate gain or loss under section 197(3) of TCGA 1992,
is to be ignored.
(2) For the purpose of applying subsection (1) in relation to the financial statements of a worldwide group of which the company is a member such adjustments are to be made to those statements as are just and reasonable.

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Source: https://www.legislation.gov.uk/ukpga/2010/8/section/451 (the official version)
Page: https://openlegislation.uk/taxation-international-and-other-provisions-act-2010/section-451
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.