Statutory Instruments
2000 No. 1072
TAXES
The Petroleum Revenue Tax (Nomination Scheme for Disposals and Appropriations) (Amendment) Regulations 2000
Made
14th April 2000
Laid before the House of Commons
17th April 2000
Coming into force
8th May 2000
The Commissioners of Inland Revenue, in exercise of the powers conferred on them by section 61(8) of, and paragraph 1(1) of Schedule 10 to, the Finance Act 1987( 1 ), and sections 132(1)(a), (2)(a), (3)(a), (d) and (g), (5)(a), (8), (9) and (10) and 133(1) and (2) of the Finance Act 1999( 2 ), hereby make the following Regulations:
Citation, commencement and effect
1. —(1) These Regulations may be cited as the Petroleum Revenue Tax (Nomination Scheme for Disposals and Appropriations) (Amendment) Regulations 2000 and shall come into force on 8th May 2000.
(2) These Regulations shall have effect in relation to nominations made for the purposes of the scheme established by Schedule 10 to the Finance Act 1987 in respect of transactions for which the transaction base date prescribed by regulation 7 of the principal Regulations falls in a chargeable period beginning after 30th June 2000.
Interpretation
regulation-2"> 2. In these Regulations “the principal Regulations” means the Petroleum Revenue Tax (Nomination Scheme for Disposals and Appropriations) Regulations 1987( 3 ) and “regulation” means a regulation of the principal Regulations.
Amendments to the principal Regulations
3. —(1) Regulation 2A( 4 ) shall be amended as follows.
(2) In paragraph (3B) in sub-paragraph (a) after the words “for the chargeable period” there shall be inserted “or for the next following chargeable period”.
4. —(1) Regulation 3( 5 ) shall be amended as follows.
(2) The word “or” immediately following paragraph (2)(c)(iii) shall be omitted.
(3) In paragraph (2)(c)(iv) after the words “or the registered letter service, ” there shall be inserted
“ or
(v) by electronic communications in accordance with any requirements imposed by means of a specific or general direction of the Board as to the manner in which such communications are to be made, ” .
(4) After paragraph (3) there shall be inserted the following paragraph—
“ (4) In paragraph (2)(c)(v) above “electronic communications” includes any communications by means of a telecommunication system within the meaning of the Telecommunications Act 1984 ( 6 ) ). ”
Nick Montagu
Tim Flesher
Two of the Commissioners of Inland Revenue
14th April 2000