The Finance Act 2003, Section 66 (Prescribed Statutory Provisions) Order 2007

• Citation: S.I. 2007/1385
• Sections: 2

Section 1 Citation and commencement

This Order may be cited as the Finance Act 2003, Section 66 (Prescribed Statutory Provisions) Order 2007 and shall come into force on 25th May 2007.

Section 2 Prescribed Statutory Provisions

A land transaction that is not entered into as mentioned in section 66(1) of the Finance Act 2003 is exempt from charge to stamp duty land tax if—

(a) the transaction is effected—

(i) under paragraph A23(2), 4(2), 5(4B) or 8(2)(b) of Schedule 22 to the School Standards and Framework Act 1998 (transfer of land to local education authority), or

(ii) by a transfer required by virtue of regulations made under section 27(2)(b) of the Education and Inspections Act 2006 (transfer of land on removal of foundation or reduction in foundation governors), and

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