Related Commentary  

9(1)  The tax payable by a participator in an oil field for any chargeable period to which this subsection applies shall not exceed 80 per cent of the amount (if any) by which his adjusted profit for that period (as defined in this section) exceeds 15 per cent of his accumulated capital expenditure at the end of that period (as so defined).

9(1A)  Subsection (1) above applies to–

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