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5. After section 2 of the Chevening Estate Act 1959(1) insert—
2A.—(1) A land transaction—
(a)entered into by the Board; and
(b)in respect of which stamp duty land tax, if payable, would be payable out of moneys held upon the trusts of the trust instrument,
is exempt from charge for the purposes of stamp duty land tax.
(2) Relief under this section must be claimed in a land transaction return or an amendment of such a return.
(3) In this section—
“land transaction” has the meaning given by section 43(1) of the Finance Act 2003;
“land transaction return” has the meaning given by section 76(1) of that Act.”.
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