SCHEDULES
SCHEDULE 7Contaminated and derelict land
Part 1Amendments of Part 14 of CTA 2009
22
After section 1178 insert—
1178A“Major interest in land”
1
References in this Part to the acquisition of a major interest in land are to the acquisition of a freehold interest in the land or of a relevant leasehold interest in the land.
2
The reference in subsection (1) to the acquisition of a freehold interest in land is—
a
in relation to land in England and Wales, to the acquisition of an estate in fee simple absolute (whether subsisting at law or in equity),
b
in relation to land in Scotland, to the acquisition of the interest of an owner of land, and
c
in relation to land in Northern Ireland, to the acquisition of any freehold estate (whether subsisting at law or in equity).
3
The reference in subsection (1) to the acquisition of a relevant leasehold interest in land is to the acquisition by grant or assignment (or assignation) of—
a
in relation to land in England and Wales, a term of years absolute (whether subsisting at law or in equity),
b
in relation to land in Scotland, the tenant's right over or interest in a property subject to a lease, or
c
in relation to land in Northern Ireland, any leasehold estate (whether subsisting at law or in equity),
in relation to which the condition in subsection (4) is met.
4
That condition is that—
a
in the case of a grant, the term of years or period of the lease is at least 7 years, and
b
in the case of an assignment (or assignation) the unexpired portion of the term or period is at least 7 years.