This section has no associated Explanatory Notes
6(1)Section 109 (general power to vary Part 4 of FA 2003 by regulations) is amended as follows.U.K.
(2)After subsection (2) insert—
“(2A)The power under subsection (2)(b) includes power to alter the conditions for the application to a chargeable transaction of paragraph 3 of Schedule 4A (higher rate for certain transactions), other than the condition that the transaction must be a high-value residential transaction.”
(3)In subsection (3)—
(a)for “subsection (2)(b),” substitute “ subsections (2)(b) and (2A), ”,
(b)omit the “or” at the end of paragraph (a), and
(c)after that paragraph insert—
“(aa)section 74(1A) (exercise of collective rights by tenants of flats),
(ab)Schedule 4A (amount of tax chargeable: high-value interests in dwellings), or”.