ASSOCIATED ASSETS

Related Commentary  

1(1)  This paragraph applies where, after 30th June 1982, a participator in an oil field (in this paragraph referred to as “the principal field” ) incurs or incurred expenditure in acquiring, bringing into existence or enhancing the value of an asset–

(a)which is not a mobile asset and which, apart from this paragraph, does not fall within subsection (1)(a) of section 3 of this Act; and

(b)the use of which gives rise, or is expected to give rise, to receipts which, assuming the asset to be a qualifying asset, would be tariff receipts; and

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