§ Mr. Sproatasked the Secretary of State for Energy if he will list all the changes in the powers of the British National Oil Company made since May 1979.
§ Mr. John MooreBy virtue of the Finance (No. 2) Act 1979, the British National Oil Corporation is now liable to payment of petroleum revenue tax.
We propose that the corporation's present power under the Petroleum (Production) Regulations 1976 to make uninvited application for offshore production licences should be ended by virtue of the Petroleum (Production) (Amendment) Regulations which it is intended should come into operation on 14 June.
Further statutory changes—including the ending of the corporation's statutory advisory role—are planned, as I have previously advised the House. Legislation will be introduced as soon as possible.