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SCHEDULE 6SRelief for certain acquisitions by registered social landlords

(introduced by section 27)

The reliefS

1SA land transaction under which the buyer is a registered social landlord is exempt from charge if [F1one or more of] the qualifying conditions are met.

Textual Amendments

Commencement Information

I1 Sch. 6 para. 1 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2

The qualifying conditionsS

2SThe qualifying conditions are—

(a)that the registered social landlord is controlled by its tenants,

(b)that the seller is one of the following—

(i)a registered social landlord,

(ii)the Scottish Ministers,

(iii)a local authority, [F2or]

(c)that the transaction is funded with the assistance of a grant or other financial assistance—

(i)made or given by way of a distribution pursuant to section 25 of the National Lottery etc. Act 1993 (c.39) (application of money by distributing bodies), or

(ii)under section 2 of the Housing (Scotland) Act 1988 (c.43) (general functions of the Scottish Ministers).

Textual Amendments

Commencement Information

I2 Sch. 6 para. 2 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2

Landlord controlled by tenantsS

3SThe reference in paragraph 2(a) to a registered social landlord controlled by its tenants is to a registered social landlord the majority of whose board members are tenants occupying properties owned or managed by it.

Commencement Information

I3 Sch. 6 para. 3 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2

4SFor the purposes of paragraph 3, “board member” is to be construed as follows—

Type of registered social landlordBoard member
CompanyA director of the company
Body corporate whose affairs are managed by its membersA member
Body of trusteesA trustee
None of the aboveA member of the committee of management or other body to which is entrusted the direction of the affairs of the registered social landlord

Commencement Information

I4 Sch. 6 para. 4 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2