Section EJ 20 — Income Tax Act 2007: Meaning of petroleum mining development

EJ 20 Meaning of petroleum mining development Meaning (1) In sections EJ 12 and EJ 12B , petroleum mining development means a place where 1 or more of the activities described in subsection (2) is carried out. Activities: inclusions (2) The activities are those carried out in connection with— (a) developing a permit area for producing petroleum: (b) producing petroleum: (c) processing, storing, or transmitting petroleum before its dispatch to a buyer, consumer, processor, refinery, or user: (d) removal or restoration operations. Activities: exclusions (3) The activities do not include further treatment to which all the following apply: (a) it occurs after the well stream has been separated and stabilised into crude oil, condensate, or natural gas; and (b) it is done— (i) by liquefaction or compression; or (ii) for the extraction of constituent products; or (iii) for the production of derivative products; and (c) it is not treatment at the production facilities. Defined in this Act: permit area , petroleum , removal or restoration operations Section EJ 20: substituted (with effect on 1 April 2008), on 6 October 2009, by section 131(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).