Document ID: chunk:federal_register_of_legislation:C2008C00563:schedule:1:p2
Version: federal_register_of_legislation:C2008C00563
Segment Type: schedule
Provision Reference: sch 1 (pt 2/5)
Character Range: 11554–14071

amounts paid to the State by the producer under the provision of the agreement required by paragraph (e) in respect of that year—the State shall pay the producer the difference between the amount and the sum or shall otherwise give the producer the benefit of that difference;

 (g) that, if relevant petroleum is destroyed or lost and the producer receives  an amount by way of insurance or indemnity in respect of the destruction or loss, the producer shall be taken to have sold the petroleum for that amount;

 (h) that, where relevant petroleum is sold by the producer otherwise than in an arms length transaction, the producer shall be taken to have sold the petroleum for an amount equal to the value of the petroleum at the time of the sale;

 (j) that market petroleum shall be taken to be sold otherwise than in an arms length transaction if—
 (i) there is any consideration payable for or in respect of the petroleum other than its price;
 (ii) the price is influenced by a commercial or other relationship between the buyer, or an associate of the buyer, and the seller, or an associate of the seller; or
 (iii) the buyer, or an associate of the buyer, will, directly or indirectly, be reimbursed, be compensated, or otherwise receive a benefit for, or in respect of, the whole or any part of the price;

 (k) that 2 persons shall be deemed to be associates of each other if, and only if—
 (i) both being natural persons—
(A) they are connected by a blood relationship or by marriage or by adoption; or
(B) one of them is an officer or director of a body corporate controlled, directly or indirectly, by the other;
 (ii) both being bodies corporate—
(A) both of them are controlled, directly or indirectly, by a third person (whether or not a body corporate);
(B) both of them together control, directly or indirectly, a third body corporate; or
(C) the same person (whether or not a body corporate) is in a position to cast, or control the casting of, 5% or more of the maximum number of votes that might be cast at a general meeting of each of them;
 (iii) one of them, being a body corporate, is, directly or indirectly, controlled by the other (whether or not a body corporate);
 (iv) one of them, being a natural person, is an employee, officer or director of the other (whether or not a body corporate);
 (v) they are members of the same partnership; or
 (vi) they are trustees or beneficiaries, or one of them is a trustee and the other is a beneficiary, of the same trust;

 (m) that, if—
 (i) the