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(introduced by section 27)
1SA land transaction under which the buyer is a registered social landlord is exempt from charge if [F1one or more of] the qualifying conditions are met.
Textual Amendments
F1Words in Sch. 6 para. 1 inserted (1.4.2015) by The Land and Buildings Transaction Tax (Addition and Modification of Reliefs) (Scotland) Order 2015 (S.S.I. 2015/93), arts. 1(2), 2(3)(a)
Commencement Information
I1 Sch. 6 para. 1 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2
2SThe qualifying conditions are—
(a)that the registered social landlord is controlled by its tenants,
(b)that the seller is one of the following—
(i)a registered social landlord,
(ii)the Scottish Ministers,
(iii)a local authority, [F2or]
(c)that the transaction is funded with the assistance of a grant or other financial assistance—
(i)made or given by way of a distribution pursuant to section 25 of the National Lottery etc. Act 1993 (c.39) (application of money by distributing bodies), or
(ii)under section 2 of the Housing (Scotland) Act 1988 (c.43) (general functions of the Scottish Ministers).
Textual Amendments
F2Word in Sch. 6 para. 2(b)(iii) substituted (1.4.2015) by The Land and Buildings Transaction Tax (Addition and Modification of Reliefs) (Scotland) Order 2015 (S.S.I. 2015/93), arts. 1(2), 2(3)(b)
Commencement Information
I2 Sch. 6 para. 2 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2
3SThe reference in paragraph 2(a) to a registered social landlord controlled by its tenants is to a registered social landlord the majority of whose board members are tenants occupying properties owned or managed by it.
Commencement Information
I3 Sch. 6 para. 3 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2
4SFor the purposes of paragraph 3, “board member” is to be construed as follows—
Type of registered social landlord | Board member |
---|---|
Company | A director of the company |
Body corporate whose affairs are managed by its members | A member |
Body of trustees | A trustee |
None of the above | A member of the committee of management or other body to which is entrusted the direction of the affairs of the registered social landlord |
Commencement Information
I4 Sch. 6 para. 4 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2