Corporation Tax Act 2010 section 278

Other definitions

Section 278 provides key definitions of terms used throughout the oil activities provisions of the Corporation Tax Act 2010.

  • "Oil" covers any substance extracted under a UK petroleum licence, except methane gas won during mine safety operations.
  • "Chargeable period", "oil field" and "participator" all take their meanings from Part 1 of the Oil Taxation Act 1975.
  • "Designated area" means an area of the UK continental shelf designated by Order in Council under the Continental Shelf Act 1964.
  • "The OGA" refers to the Oil and Gas Authority, the body responsible for regulating UK oil and gas exploration and production.

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