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Oil Taxation Act 1983 section 5
Schedule 1 paragraph 5 – Apportionment of allowable expenditure on new assets used across multiple oil fields
Section 5 of Schedule 1 deals with how allowable expenditure on a replacement or new asset should be split when the purchasing participator holds interests in more than one oil field and the asset serves (or is expected to serve) two or more of those fields.
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