PART 8INTERPRETATION AND FINAL PROVISIONS
Final provisions
79Regulations
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.