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Finance Act 2012

Land in disadvantaged areas

11.Paragraph 7(1) repeals sections 92 to 92B of, and Schedule 30 to, FA 2001.  Those provisions provide relief from stamp duty for purchases of residential property in areas designated as disadvantaged.

12.Paragraph 7(2) makes consequential amendments.

13.Paragraph 7(3) provides for any regulations made under section 92 of FA 2001 to continue to have effect for the purposes of section 72DA of the Insolvency Act 1986.

14.Paragraph 8(1) repeals section 57 of, and Schedule 6 to, FA 2003 which provide relief from stamp duty land tax for purchases of residential property in areas designated as disadvantaged.

15.Paragraphs 8(2) and (3) make consequential amendments.

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