HC Deb 25 March 1991 vol 188 c720

Resolved, That provision may be made about—

  1. (a) the effect, for the purposes of petroleum revenue tax and corporation tax, of payments by the guarantor under contracts of guarantee relating to the liabilities of participators in an oil field for certain costs incurred in or related to the closing down of the field or any part of it; and
  2. (b) the division of certain expenditure between participators in an oil field where one or more of them defaults on his liabilities in respect of that expenditure; and
  3. (c) the treatment for the purposes of petroleum revenue tax and corporation tax of certain reimbursements of expenditure received by one participator from another; and
  4. (d) the apportionment of certain expenditure referable to an asset which is a qualifying asset for the purposes of the Oil Taxation Act 1983.