Section 356L — Corporation Tax Act 2010: “Oil contractor activities” etc

“Oil contractor activities” etc 356L 1 The definitions in this section have effect for the purposes of this Part. 2 “ Oil contractor activities ” means activities carried on by a company (“the contractor”), which are not oil-related activities (within the meaning of section 274), but are—

a exploration or exploitation activities in, or in connection with, which the contractor provides, operates or uses a relevant asset (see section 356LA) in a relevant offshore service, or b otherwise carried on in, or in connection with, the provision by the contractor of a relevant offshore service.

3 The contractor provides a “relevant offshore service” if the contractor provides, operates or uses a relevant asset in, or in connection with, the carrying on of exploration or exploitation activities in a relevant offshore area by the contractor or any other associated person. 4 “ Exploration or exploitation activities ” means activities carried on in connection with the exploration or exploitation of the seabed and subsoil and their natural resources. 5 “ Relevant offshore area ” means—

a the territorial sea of the United Kingdom;

b the areas designated by Order in Council under section 1(7) of the Continental Shelf Act 1964.