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Amendment of section 51 (payment of tax and interest on tax) of Principal Act.
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115.— (1) Section 51 of the Principal Act is amended in subsection (3) by substituting the following for paragraph (e):
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“(e) to the extent to which section 86(6) or (7) applies, for the duration of the period from the valuation date to the date the exemption ceases to apply,
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(f) to the extent to which section 102A(2) applies, for the duration of the period from the valuation date to the date the development land is disposed of.”.
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(2) This section applies where the event that causes the exemption to cease to apply or the tax to be re-computed, as the case may be, occurs on or after 1 February 2007.
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