Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017

79 Regulations E+W

(1) Any power to make regulations under this Act—

(a) must be exercised by statutory instrument, and

(b) includes power to make different provision for different purposes.

(2) A statutory instrument containing regulations made under any of the following provisions may not be made unless a draft of the instrument has been laid before, and approved by a resolution of, the National Assembly for Wales—

(a) section 5(4) (exempt interests);

(b) section 18(2) (chargeable consideration);

(c) section 24(11) (higher rates residential property transactions);

(d) section 30(6) (reliefs);

(e) section 33(7) (companies);

(f) section 34(6) (unit trusts);

(g) section 35(1) (open-ended investment companies);

(h) section 36(8) (co-ownership authorised contractual schemes);

(i) section 41(2) (partnerships);

(j) section 42(2) (trusts);

(k) section 46(10) (thresholds for notifiable transactions);

(l) section 47(5) (late payment interest start date);

(m) section 49(5) (late payment interest start date);

(n) section 52(1) (period within which returns must be made);

(o) section 64(1) (regulations about deferral of tax);

(p) section 72(10) (residential property);

(q) paragraph 7 of Schedule 3 (exempt transactions);

(r) paragraph 27(2) of Schedule 6 (charging tax on rent element of residential leases);

(s) paragraph 32 of that Schedule (temporal discount rate for leases);

(t) paragraph 36(1)(b) of that Schedule (specified amount of relevant rent);

(u) paragraph 37 of that Schedule (power to amend or repeal paragraphs 34 to 36);

(v) paragraph 6(7) of Schedule 13 (multiple dwellings relief: minimum percentage of tax attributable to dwellings);

(w) paragraph 3 of Schedule 17 (acquisition relief: proportion of tax relieved).

(3) Any other statutory instrument containing regulations made under this Act (except an instrument mentioned in subsection (4)) is subject to annulment in pursuance of a resolution of the National Assembly for Wales.

(4) Subsection (3) does not apply to a statutory instrument containing any of the following—

(a) regulations made under section 24(1) or paragraph 27(4) or 28(1) of Schedule 6 (regulations about tax rates and bands);

(b) regulations made under section 78 to which subsection (3) of that section applies.