PART 2THE TAX AND TAXABLE DISPOSALS
CHAPTER 3EXEMPT DISPOSALS
I112Power to modify exemptions
1
Regulations may—
a
create an additional exemption from tax,
b
modify an existing exemption, or
c
remove an exemption.
2
The regulations may provide for an exemption to apply subject to conditions (for example, a condition requiring WRA to be notified before a disposal is made).
3
The regulations may amend any enactment relating to the tax.