Finance Act 2022
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Amendment of section 477C of Principal Act (Help to Buy) | ||
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6. Section 477C of the Principal Act is amended— | ||
(a) in subsection (1)— | ||
(i) by the insertion of the following definition: | ||
“‘Act of 2021’ means the Affordable Housing Act 2021 ;”, | ||
(ii) in the definition of “qualifying period”, by the substitution of “2024” for “2022”, and | ||
(iii) in the definition of “qualifying residence”— | ||
(I) in paragraph (a), by the substitution of “dwelling,” for “dwelling, or”, | ||
(II) in paragraph (b), by the insertion of “or” after “converted for as use as a dwelling,”, and | ||
(III) by the insertion of the following paragraph after paragraph (b): | ||
“(c) a building which was not at any time used as a dwelling and was purchased by a first-time purchaser in accordance with an affordable dwelling purchase arrangement (within the meaning of section 12 the Act of 2021) and a direct sales agreement (within the meaning of section 7 of the Act of 2021),”, | ||
(b) in subsection (5A), by the substitution of “2024” for “2022”, | ||
(c) in subsection (8)(b), by the substitution of “2024” for “2022”, | ||
(d) in subsection (16)(a)— | ||
(i) by the substitution in subparagraph (ii) of “2024” for “2022”, and | ||
(ii) by the substitution in subparagraph (iii) of “2024” for “2022”, | ||
and | ||
(e) in subsection (25), by the substitution of “2024” for “2022”. |