Sections 3 and 4

RESTRICTIONS ON EXPENDITURE ALLOWABLE UNDER SECTION 3 OR 4

Related Commentary  

1(1)  Expenditure incurred by any person in the acquisition of an asset is now allowable under section 3 or 4 of this Act for an oil field if expenditure previously incurred by another person in acquiring, bringing into existence, or enhancing the value of that asset is allowable under that section for that field.

Section 4(13) of this Act applies to the preceding provisions of this sub-paragraph.

1(2)  Sub-paragraph (1) above shall, with any necessary modifications, have effect in relation to expenditure incurred by a person–

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