(1) Where a person disposes, otherwise than by way of a sale at arm's length, of petroleum acquired by him by virtue of petroleum activities carried on by him, then, for all the purposes of the Tax Acts, the disposal of the petroleum and its acquisition by the person to whom the disposal was made shall be treated as having been for a consideration equal to the market value of the petroleum at the time the disposal was made.
(a) Where a person who carries on, in the course of a trade, petroleum activities and other activities, makes a relevant appropriation of any petroleum won or otherwise acquired by him in the course of the petroleum activities without disposing of the petroleum, then, for all the purposes of the Tax Acts, he shall be treated as having, at the time of the appropriation -
(i) sold the petroleum in the course of the petroleum trade carried on by him, and
(ii) bought it in the course of a separate trade consisting of the activities other than the petroleum acti