1(1)Section 107 of the Finance Act 1981 (stamp duty payable upon sale of houses at a discount) is amended as follows.U.K.
(2)After subsection (3)(e) insert—
“(ea)a registered social landlord within the meaning of Part I of the Housing Act 1996;”.
(3)In subsection (3)(f) for the words from “registered” to the end substitute “registered—
(i)in Scotland, under the Housing Associations Act 1985, or
(ii)in Northern Ireland, under Part II of the Housing (Northern Ireland) Order 1992;”.
(4)In subsection (3A) (exclusion of certain sub-sales), for “subsection (3)(f)” substitute “ subsection (3)(ea) or (f) ”.
(5)After subsection (3B) insert—
“(3C)A grant under section 20 or 21 of the Housing Act 1996 (purchase grants in respect of disposals at a discount by registered social landlords) shall not be treated as part of the consideration for a conveyance or transfer to which this section applies made by a body falling within subsection (3)(ea) above.”.
Commencement Information
I1Sch. 3 para. 1 wholly in force 1.4.1997: Sch. 3 para. 1 not in force at Royal Assent, see s. 232(1)-(3); Sch. 3 para. 1(1)-(4) in force at 1.10.1996 by S.I. 1996/2402, art. 3 (subject to the transitional provisions and savings in Sch. para. 1 of that S.I.) and Sch. 3 para. 1 in force at 1.4.1997 so far as not already in force by S.I. 1997/618, art. 2 (subject to the limitation in (2) of that art.)