Finance (Local Property Tax) Act 2012
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Meaning of “sale”. |
125.— In sections 126 and 128 — | |
“sale” includes, in relation to a residential property, the transfer of the residential property by a liable person to another person— | ||
(a) in consequence of— | ||
(i) the exercise of a power under any enactment to compulsorily acquire land, or | ||
(ii) the giving of notice of intention to exercise such power, | ||
or | ||
(b) for no consideration or consideration which is significantly less than the chargeable value of the residential property at the time of its transfer. |