Corporation Tax Act 2010 section 273

Oil rights

Section 273 defines the term "oil rights" for the purposes of this Part of the Act.

  • Oil rights means rights to oil to be extracted at any place in the United Kingdom or a designated area.
  • Oil rights also includes rights to interests in, or to the benefit of, such oil.
  • A designated area typically refers to areas of the UK continental shelf designated under relevant legislation.
  • This definition applies throughout this Part of the Corporation Tax Act 2010.

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