Finance Act, 1975

Amendment of section 17 of Finance Act, 1974.

15.Section 17 (4) of the Finance Act, 1974 , is hereby amended by the insertion of “or otherwise” after “partnership”, and the said section 17 (4), as so amended, is set out in the Table to this section.

TABLE

(4) Where farm land is beneficially owned by an individual, or by his wife, jointly with any other person or persons and the said farm land is occupied by the individual, or by his wife, in partnership or otherwise with any other person or persons, he shall be deemed to occupy farm land the rateable valuation of which is an amount which is equal to such fractional part of the total rateable valuation of the land of which he or his wife is a beneficial owner as is proportionate to his or her share in the beneficial ownership of the said farm land.