[F2842B Meaning of F1. . . “property investment LLP”U.K.
(1)In [F3the Corporation Tax Acts]—
(a)F4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b)a “property investment LLP” means a limited liability partnership whose business consists wholly or mainly in the making of investments in land and the principal part of whose income is derived therefrom.
(2)Whether a limited liability partnership is F5. . . a property investment LLP is determined for each period of account of the partnership.
F6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]Textual Amendments
F1Words in s. 842B sidenote repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 231(4), Sch. 3 Pt. 1 (with Sch. 2)
F2S. 842B inserted (6.4.2001 with effect in accordance with s. 76(1) of the amending Act) by Finance Act 2001 (c. 9), s. 76(2), Sch. 25 para. 1(1)
F3Words in s. 842B(1) substituted (6.4.2007 with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 231(2)(a) (with Sch. 2)
F4S. 842B(1)(a) and word repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 231(2)(b), Sch. 3 Pt. 1 (with Sch. 2)
F5Words in s. 842B(2) repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 231(3), Sch. 3 Pt. 1 (with Sch. 2)
F6Words in s. 842B(2) repealed (24.7.2002) by Finance Act 2002 (c. 23), Sch. 40 Pt. 3(16)