Corporation Tax Act 2010 section 356JNB

Other definitions

Section 356JNB provides a glossary of key defined terms used throughout the cluster area allowance provisions in this Chapter.

• Defines seven key terms used throughout the cluster area allowance Chapter, including "adjusted ring fence profits", "cluster area allowance", and "relevant income".
• Several terms — "licence", "licensed area", and "licensee" — take their meanings from Part 1 of the Oil Taxation Act 1975, linking these provisions to the existing oil and gas licensing framework.
• "Adjusted ring fence profits", "cluster area allowance", "cumulative total amount of activated allowance", and "relevant income" are each defined by reference to other sections within the Corporation Tax Act 2010.
• These definitions apply throughout the Chapter unless a particular provision expressly states otherwise.