24Assessable petroleum receipts—sales gas of relevant operation becoming excluded commodity other than by being sold

24  Assessable petroleum receipts—sales gas of relevant operation becoming excluded commodity other than by being sold  (1) For the purposes of paragraph 24(1)(e) of the Act, this section applies to sales gas that:  (a) is project sales gas of a relevant operation; and  (b) becomes or became an excluded commodity (otherwise than as mentioned in subparagraph 24(1)(e)(i) or (ii) of the Act). Note: Paragraph 24(1)(c) of the Act applies to other sales gas that becomes an excluded commodity.  (2) In this instrument: non‑sale transaction means the act by which project sales gas to which this section applies becomes or became an excluded commodity. Advance pricing arrangement  (3) If an advance pricing arrangement applies to a taxpayer in relation to the non‑sale transaction, the amount of assessable petroleum receipts of the taxpayer is the amount worked out in accordance with the arrangement. Comparable uncontrolled price  (4) The assessable petroleum receipts of a taxpayer in relation to the non‑sale transaction is the amount worked out under subsection (5) if:  (a) no advance pricing arrangement applies to the taxpayer in relation to the transaction; and  (b) a comparable uncontrolled price exists for the transaction; and  (c) no election has been made in relation to the relevant operation under section 54.  (5) The amount is the comparable uncontrolled price multiplied by the taxpayer’s non‑sale entitlement share for the non‑sale transaction. Residual pricing method  (6) The assessable petroleum receipts of a taxpayer in relation to the non‑sale transaction is the amount worked out under subsection (7) if:  (a) no advance pricing arrangement applies to the taxpayer in relation to the transaction; and  (i) no comparable uncontrolled price exists for the transaction; or  (ii) an election has been made in relation to the relevant operation under section 54.  (7) The amount is the RPM price, of project sales gas, for the taxpayer in the year of tax in which the non‑sale transaction took place multiplied by the taxpayer’s non‑sale entitlement share for the transaction.