OT04060 - PRT: Administration: Returns by Responsible Person - PRT 2

OTA75\SCH2\PARA5

The Responsible Person (RP) is required, for each chargeable period, to submit to LBS Oil & Gas a return on form PRT 2 within one month after the end of that chargeable period unless an extension of the time allowed for the delivery of a return has been agreed by LBS Oil & Gas (for deferral of returns, see the appendix 8 at OT19560 and appendix 8a at OT19565).

The main purpose of this return is to provide basic details about the oil won and saved from each field in each period. The figures should be reconciled with the quantities returned by each participator in the field on the PRT 1 return (see OT04090).

The PRT 2 is a three-part form requiring the following details:

• Part A - a statement of oil won and saved (see OT17200).
• Part B - a statement of the total shares of oil won and saved in the period for each participator.
• Part C - particulars required for the determination of the amount of tariff receipts allowance (see OT15600).

Declarations

A statutory declaration that the return is correct and complete is required as part of the return. This is included on a separate form PRT (D2). The RP must ensure that a declaration is made on a form PRT (D2) for every PRT 2 that has been completed and delivered. The declaration must be signed by an authorised officer of the company and returned to the OTO with the PRT 2.