PART IIITRANSITIONAL PROVISIONS
Leasehold Reform, Housing and Urban Development Act 1993 Levy on disposals53
1
Where the conditions in paragraph (3) are satisfied, an acquiring or designated authority shall be liable to pay a levy in accordance with section 136 of the 1993 Act to the Secretary of State of an amount equal to that which the relinquishing or abolished authority would have paid had it received the actual or notional capital receipt.
2
Accordingly, the provisions made by and under section 136 of the 1993 Act in relation to the administration and payment of the levy shall apply to the acquiring or designated authority as they would have applied to the relinquishing or abolished authority.
3
The conditions are—
a
a relinquishing or abolished authority makes a qualifying disposal as defined in section 136(1) of the 1993 Act; and
b
on or after the reorganisation date an acquiring or designated authority receives an actual or notional receipt which, if it had been received by the authority making the disposal, would have been included in “CR” as defined in section 136(3) of the 1993 Act.