Finance Act 1975

The Land Registration Act 1925

5 (1) The [1925 c. 21.] Land Registration Act 1925 shall be amended as follows.

(2) In section 20(1)(a), after the word " register" there shall be inserted the words " and any charge for capital transfer tax subject to which the disposition takes effect under section 73 of this Act ".

(3) In section 23(1)(b), after the word "register" there shall be inserted the words " and any charge for capital transfer tax subject to which the disposition takes effect under section 73 of this Act ".

(4) In section 59(6), after the word " interest" there shall be inserted the words " or a charge for capital transfer tax subject to which the disposition takes effect under section 73 of this Act ".

(5) In section 64(1), at the end of paragraph (c) there shall be added the words " or a notice of a charge for capital transfer tax ".

(6) For section 73 there shall be substituted the following section—

“73 Inland Revenue charge for capital transfer tax.

A disposition shall take effect subject to any subsisting Inland Revenue charge under Part III of the Finance Act 1975 unless—

(a) the disposition is in favour of a purchaser within the meaning of that Part; and

(b) the charge is not, at the time of registration of the disposition, protected by notice on the register.”