The Value Added Tax (Buildings and Land) Order 2009 No. 1966

Amendment of Schedule 10 to the Value Added Tax Act 1994

5.—(1) Paragraph 25 (revocation of an option: lapse of more than 20 years since option had effect) is amended as follows.

(2) In sub-paragraph (6)(b), for “as they” substitute “or time as they may”.

(3) In sub-paragraph (7), after “day” insert “or time”.

(4) For sub-paragraph (8) substitute—

“(8) The Commissioners may specify a day or time under sub-paragraph (6)(b) by reference to the happening of an event or the meeting of a condition.”.