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25 Oil Licences

Volume 130: debated on Monday 21 March 1988

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Resolved,

That provision may he made with respect to the application of—
  • (a) the Capital Gains Tax Act 1979 and any enactment which falls to be construed as one with that Act,
  • (b) certain provisions of the Capital Allowances Act 1968, and
  • (c) section 55 of and Schedules 13 and 14 to the Finance Act 1986 (capital allowances in respect of mineral extraction),
  • in relation to certain disposals (including part disposals) of licences under the Petroleum (Production) Act 1934 and the Petroleum (Production) Act (Northern Ireland) 1964, being disposals occurring before as well as after the passing of this Resolution.—[Mr. Lawson.]