102 PRT returns
Finance Act 1999 (1999 c 16) | Legislation

102  PRT returns

(1)     In paragraph 2 of Schedule 2 to the Oil Taxation Act 1975 (returns by participators)—

(a)     in sub-paragraph (1) (returns must be delivered within two months of the end of a chargeable period), after “the period” there shall be inserted “or within such longer period as the Board may allow”; and

(b)     after sub-paragraph (4) there shall be inserted the following sub-paragraph—

“(5)     The power of the Board to allow an extension of time under sub-paragraph (1) above shall include power—

(a)     to allow an extension for an indefinite period; and

(b)     to provide for the period of any extension to end at such time as may be stipulated in a notice given by the Board.”

(2)     In paragraph 5 of that Schedule (returns by the responsible person)—

(a)     in sub-paragraph (1) (returns must be delivered within one month of the end of a chargeable period), after “the period” there shall be inserted “or within such longer period as the Board may allow”; and

(b)     after sub-paragraph (3) there shall be inserted the following sub-paragraph—

“(4)     The power of the Board to allow an extension of time under sub-paragraph (1)

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