Corporation Tax Act 2010 section 349

Orders

Section 349 gives HMRC the power to make orders setting out provisions relating to qualifying oil fields and the amount of total field allowance available for new oil fields.

• HMRC Commissioners have the authority to make orders under this section.
• Orders may make provision about which oil fields qualify under section 352.
• Orders may also set the amount of total field allowance for a new oil field under section 356.
• This power enables HMRC to update qualifying criteria and allowance amounts without requiring primary legislation.