CG71741 - Mineral leases: terminal loss relief: definitions

TCGA92/S202 and ICTA88/S122

The terms `minerals', `mineral royalties' and `mineral lease or agreement' are defined in full in ICTA88/S122. Brief definitions can be found in CG71702.

`Relevant event' means either the expiry or termination of the mineral lease or agreement or the disposal (deemed or actual) of the land subject to the mineral lease or agreement, TCGA92/S202 (2).

`Terminal loss' means a loss arising as the result of a claim under TCGA92/S202 (3) or (7).