- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (01/04/2009)
- Gwreiddiol (Fel y'i Deddfwyd)
Version Superseded: 17/07/2012
Point in time view as at 01/04/2009. This version of this provision has been superseded.
You are viewing this legislation item as it stood at a particular point in time. A later version of this or provision, including subsequent changes and effects, supersedes this version.
Note the term provision is used to describe a definable element in a piece of legislation that has legislative effect – such as a Part, Chapter or section.
There are currently no known outstanding effects for the Finance Act 1980, Section 97.
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
(1)A lease to which this section applies shall, instead of being chargeable with stamp duty under [F1Part II of Schedule 13 to the Finance Act 1999 (lease)], be chargeable with stamp duty under [F2Part I of that Schedule (conveyance or transfer on sale)] as if it were a conveyance for a consideration equal to the value [F3or sum] stated in the lease in accordance with subsection (2)(d) below ; and where stamp duty has been paid on a lease in accordance with this section stamp duty shall not be chargeable under that Act on any instrument executed in pursuance of the lease whereby the reversion is transferred to the lessee.
(2)This section applies to any lease granted by a body mentioned in subsection (3) below, being a lease which—
(a)is of a dwelling for the exclusive use of the lessee or, if there are joint lessees, of those lessees;
[F4(b)is granted partly in consideration of a premium calculated by reference to—
(i)the market value of the dwelling, or
(ii)a sum calculated by reference to that value, and partly in consideration of rent]
(c)provides for the lessee to acquire reversion; and
(d)contains a statement of the market value referred to in [F5paragraph (b)(i) above or, as the case may be, the sum referred to in paragraph (b)(ii) above] and a statement to the effect that the parties intend duty to be charged in accordance with this section by reference to that value [F6or as the case may be, to that sum].
(3)The bodies referred to in subsection (2) above are—
[F7(a)a local housing authority within the meaning of the Housing Act 1985;
(b)a housing association [F8within the meaning of] the Housing Associations Act 1985 or [F9Part VII] of the Housing (Northern Ireland) Order 1981;]
(c)a development corporation established by an order made, or having effect as if made, under the M1New Towns Act 1965 ;
[F10(cc)a housing action trust established under Part III of the Housing Act 1988;]
(d)the Commission for the New Towns;
F11(e). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(f)the Northern Ireland Housing Executive;
(g). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F12
(4)For the purposes of subsection (1) above an instrument transferring a reversion shall not be regarded as executed in pursuance of a lease in respect of which duty has been paid in accordance with this section unless it contains a statement to the effect that it has been so executed.
Textual Amendments
F1Words in s. 97(1) substituted (27.7.1999 with effect as mentioned in s. 122 of the amending Act) by 1999 c. 16, s. 112(4)(6), Sch. 14 para. 6(a)
F2Words in s. 97(1) substituted (27.7.1999 with effect as mentioned in s. 122 of the amending Act) by 1999 c. 16, s. 112(4)(6), Sch. 14 para. 6(b)
F3Words inserted by Finance Act 1981 (c. 35, SIF 114), s. 108(1)(2)(7)
F4S. 97(2)(b) substituted by Finance Act 1981 (c. 35, SIF 114), s. 108(1)(3)(a)(7)
F5Words substituted by Finance Act 1981 (c. 35, SIF 114), s. 108(1)(3)(b)(7)
F6Words added by Finance Act 1981 (c. 35, SIF 114), s. 108(1)(3)(b)(7)
F7S. 97(3)(a)(b) substituted by Housing (Consequential Provisions) Act 1985 (c. 71, SIF 61), s. 4, Sch. 2 para. 43
F8Words substituted by Finance Act 1987 (c. 16, SIF 114), s. 54(1)(a)(4)
F9Words substituted by Finance Act 1987 (c. 16, SIF 114), s. 54(1)(b)(4)
F10S. 97(3)(cc) inserted by Finance Act 1988 (c. 39, SIF 114), s. 142(1)
F11S. 97(3)(e) repealed (1.10.1998) by 1998 c. 38, s. 152, Sch. 18 Pt. IV (with ss. 137(1), 139(2), 143(2)); S.I. 1998/2244, art. 4
F12S. 97(3)(g) repealed by Housing (Consequential Provisions) Act 1985 (c. 71, SIF 61), s. 3, Sch. 1 Pt. I
Modifications etc. (not altering text)
C1S. 97 extended by Finance Act 1987 (c. 16, SIF 114), s. 54(2)–(4)
Marginal Citations
M11965. c. 59.
Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.
Gwreiddiol (Fel y’i Deddfwyd neu y’i Gwnaed): Mae'r wreiddiol fersiwn y ddeddfwriaeth fel ag yr oedd pan gafodd ei deddfu neu eu gwneud. Ni wnaed unrhyw newidiadau i’r testun.
Pwynt Penodol mewn Amser: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Rhychwant ddaearyddol: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Dangos Llinell Amser Newidiadau: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Gallwch wneud defnydd o ddogfennau atodol hanfodol a gwybodaeth ar gyfer yr eitem ddeddfwriaeth o’r tab hwn. Yn ddibynnol ar yr eitem ddeddfwriaeth sydd i’w gweld, gallai hyn gynnwys:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Defnyddiwch y ddewislen hon i agor dogfennau hanfodol sy’n cyd-fynd â’r ddeddfwriaeth a gwybodaeth am yr eitem hon o ddeddfwriaeth. Gan ddibynnu ar yr eitem o ddeddfwriaeth sy’n cael ei gweld gall hyn gynnwys:
liciwch ‘Gweld Mwy’ neu ddewis ‘Rhagor o Adnoddau’ am wybodaeth ychwanegol gan gynnwys