SCHEDULE 3Relevant disposals to which section 95(1) of the Act does not apply
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1
A disposal by a transferor, “T”, to a former owner, where both the conditions in paragraph (2) are satisfied.
2
The conditions referred to in paragraph (1) are that—
a
the land was acquired by T or by a predecessor in title of T by a purchase that was a statutory compulsory purchase (“the original purchase”); and
b
T has made a first offer of the land to the former owner, in accordance with an obligation to offer back the land to the former owner before disposing of the land on the open market.
3
In this paragraph—
a
“former owner” means—
i
the person, “P”, from whom the land was acquired under the original purchase; or
ii
a successor to P; and
b
“successor” means the person on whom the land, had it not been acquired by T or a predecessor of T, would clearly have devolved under P’s will or intestacy, and includes a person who has succeeded, otherwise than by purchase, to adjoining land from which the land was severed by the original purchase.