(1)A transfer of value is exempt to the extent that the value transferred by it is attributable to land in the United Kingdom given to a [F2body falling within subsection (2) below].
[F3(2)A body falls within this subsection if it is—
(a)a registered social landlord within the meaning of Part I of the Housing Act 1996;
(b)a registered housing association within the meaning of the Housing Associations Act 1985; or
(c)a registered housing association within the meaning of Part II of the Housing (Northern Ireland) Order 1992..]
(3)Subsections (2) to (5) of section 23 and subsection (4) of section 24 above shall apply in relation to subsection (1) above as they apply in relation to section 24(1).]
Textual Amendments
F1Finance Act 1989 s. 171(1),with effect from 14March 1989.
F2Words in s. 24A(1) substituted (1.10.1996) by S.I. 1996/2325, art. 5(1), Sch. 2 para. 12(2)
F3S. 24A(2) substituted (1.10.1996) by S.I. 1996/2325, art. 5(1), Sch. 2 para. 12(3)