66 Transfers involving public bodies
Finance Act 2003 (2003 c 14) | Legislation

66  Transfers involving public bodies

(1)     A land transaction entered into on, or in consequence of, or in connection with, a reorganisation effected by or under a statutory provision is exempt from charge if the purchaser and vendor are both public bodies.

(2)     The Treasury may by order provide that a land transaction that is not entered into as mentioned in subsection (1) is exempt from charge if—

(a)     the transaction is effected by or under a prescribed statutory provision, and

(b)     either the purchaser or the vendor is a public body.

In this subsection “prescribed” means prescribed in an order made under this subsection.

(3)     A “reorganisation” means changes involving—

(a)     the establishment, reform or abolition of one or more public bodies,

(b)     the creation, alteration or abolition of functions to be discharged or discharged by one or more public bodies, or

(c)     the transfer of functions from one public body to another.

(4)

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