Part XII Supplementary Provisions

Taxation provisions

418 Stamp duty: instruments under London Regional Transport Act 1984.

1

Section 64 of the M1London Regional Transport Act 1984 (stamp duty) shall be amended as follows.

2

In subsection (7)(a) (which, among other things, provides an exemption in relation to transfers in pursuance of a scheme made under section 9(6) in compliance with a direction of the Secretary of State under section 10)—

a

after “or to a transfer made in pursuance of” there shall be inserted “ , or otherwise in connection with, ”;

b

after “section 9(6) of this Act” there shall be inserted “ (i) ”; and

c

after “under section 10 of this Act; or” there shall be inserted—

ii

in preparation for, or in pursuance of, a PPP agreement, within the meaning of Chapter VII of Part IV of the Greater London Authority Act 1999, or a contract falling within paragraph 6(2) of Schedule 33 to that Act; or

3

After subsection (7) there shall be inserted—

7A

Any reference in subsection (7)(a) above to a transfer includes—

a

a reference to an agreement for a lease or underlease; and

b

a reference to the grant of a lease or underlease.