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(1) An amount accumulated in or withdrawn from a decommissioning fund for decommissioning purposes is exempt from tax.

(2) Where there is a surplus in the relevant decommissioning fund,

(a) after a person completes decommissioning of a separate petroleum operation conducted by that person, or

(b) at the time the person breaches an approved decommissioning plan, that surplus shall be included in calculating the income of that person from the separate petroleum operation for that year of assessment.