Oil Taxation Act 1975 Schedule 2 paragraph 4

Appointment of responsible person for each oil field

Schedule 2 paragraph 4 sets out the rules for appointing a "responsible person" for each taxable oil field, who will carry out certain administrative functions under the Act on behalf of the participators in that field.

• The participators in a taxable oil field must nominate a UK-resident body corporate or partnership as the responsible person within 30 days of the field determination notice, subject to HMRC approval.
• If no valid nomination is made within the deadline, or HMRC reject the nomination, HMRC will appoint one of the participators as the responsible person.
• The participators may jointly apply to HMRC at any time to replace the current responsible person with a new nominee.
• HMRC may revoke the appointment of the responsible person at any time and appoint one of the participators in their place.

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