OT15830 - PRT: Tax-Exempt Tariffing Receipts

Definitions of New field and Existing field: OTA83/S6A(5)

New field

For the purposes of tax-exempt business a new field is:

1. an oil field for no part of which had development consent been granted to a licensee ( OT03100) or a programme of development been served on a licensee or approved, by the Secretary of State before 9 April 2003, or
2. a foreign field ( OT15840) for no part of which had development consent been granted to a licensee or a programme of development been served on a licensee or approved, by the government of country other than the UK before 9 April 2003.

Development has the same meaning as in FA83/S36.

Existing field

For the purposes of tax-exempt business an existing field is any oil field ( OT03100) or foreign field that is not a new field.