SCHEDULE 15RELIEF FOR CERTAIN TRANSACTIONS RELATING TO SOCIAL HOUSING

PART 2F1Public Sector Discount Relief

F2Relief for public sector discount transactions

2

(1)

In the case of F3a transaction subject to a public sector discount—

(a)

section 19(1) (contingent consideration to be included in chargeable consideration on assumption that contingency will occur) does not apply, and

(b)

any consideration that would be payable only if a contingency were to occur, or that is payable only because a contingency has occurred, does not count as chargeable consideration.

(2)

A ““F4transaction subject to a public sector discount”” means—

(a)

the sale of a dwelling at a discount, or the grant of a lease of a dwelling at a discount, by a relevant public sector bodyF5...

F5

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(3)

The following are relevant public sector bodies for the purposes of this paragraph—

(a)

a Minister of the Crown;

(b)

the Welsh Ministers;

(c)

a local housing authority within the meaning given by section 1 of the Housing Act 1985 (c. 68);

(d)

a registered social landlord;

(e)

a housing action trust established under Part 3 of the Housing Act 1988 (c. 50);

(f)

a local policing body within the meaning of section 101(1) of the Police Act 1996 (c. 16);

(g)

a person specified for the purposes of this paragraph by the Welsh Ministers by regulations.

F6(4)

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F7(5)

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(6)

In this paragraph—

F8...

“"registered social landlord”” (“"landlord cymdeithasol cofrestredig”") means a body registered as a social landlord in a register maintained under section 1(1) of the Housing Act 1996 (c. 52).