Section 356BA — Corporation Tax Act 2010: “Onshore oil-related activities”

“Onshore oil-related activities” 356BA 1 In this Chapter “ onshore oil-related activities ” means activities of a company which are carried on onshore and—

a fall within any of subsections (1) to (4) of section 356BB, or b consist of the acquisition, enjoyment or exploitation of oil rights.

2 Activities of a company are carried on “onshore” if they are authorised—

a under a landward licence under Part 1 of the Petroleum Act 1998 or the Petroleum (Production) Act 1934, or b under a licence under the Petroleum (Production) Act (Northern Ireland) 1964.

3 In subsection (2)(a) “ landward licence ” means a licence in respect of an area which falls within the definition of “landward area” in the regulations pursuant to which the licence was applied for.