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Income Tax Act 2007

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This is the original version (as it was originally enacted).

1004Meaning of “property investment LLP”

This section has no associated Explanatory Notes

(1)In the Income Tax Acts “property investment LLP” means a limited liability partnership—

(a)whose business consists wholly or mainly in the making of investments in land, and

(b)the principal part of whose income is derived from investments in land.

(2)Whether a limited liability partnership is a property investment LLP is determined for each period of account of the partnership.

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