1(1)A compulsory purchase facilitating development is relieved from tax.E+W
(2)In this paragraph—
“"compulsory purchase facilitating development”” (“"pryniant gorfodol sy'n hwyluso datblygiad”") means a land transaction under which the buyer acquires a chargeable interest pursuant to a compulsory purchase order made by the buyer for the purpose of facilitating development by another person;
“"development”” (“"datblygiad”") has the meaning given by the Town and Country Planning Act 1990 (c. 8) (see section 55 of that Act).
(3)For the purposes of sub-paragraph (2), it does not matter how the acquisition is effected (so that the provision applies where the acquisition is effected by agreement).
Commencement Information
I1Sch. 21 para. 1 in force at 1.4.2018 by S.I. 2018/34, art. 3