SCHEDULES

SCHEDULE 2Welsh tax on land transactions: consequential amendments

Finance Act 1931

I11

1

Section 28 of the Finance Act 1931 (production to Commissioners of instruments transferring land) is amended as follows.

2

In subsection (3), at the end of paragraph (c) add “ or a Welsh transaction ”.

3

After subsection (3A) insert—

3B

In subsection (3) “Welsh transaction” means the acquisition of—

a

an estate, interest, right or power in or over land in Wales, or

b

the benefit of an obligation, restriction or condition affecting the value of any such estate, interest, right or power.