Sch 10 para 15 Meaning of “exempt land”: basic definition
(1) This paragraph explains for the purposes of paragraphs 12 to 17 what is meant by exempt land. (2) Land is exempt land if, at any time before the end of the relevant adjustment period as respects that land— (a) a relevant person is in occupation of the land, and (b) that occupation is not wholly, or substantially wholly, for eligible purposes. (3) Each of the following is a relevant person— (a) the grantor, (b) a person connected with the grantor, (c) a development financier, and (d) a person connected with a development financier. (3A) Where a person (“P”) is in occupation of the land at any time before the end of the relevant adjustment period as respects that land, P is treated for the purposes of sub-paragraph (2) as not in occupation of the land at that time if— (a) the building occupation conditions are met at that time, or (b) P’s occupation of the land arises solely by reference to any automatic teller machine of P. (4) The relevant adjustment period as respects any land is the period provided in the relevant regulations (within the meaning of paragraph 13) for the making of adjustments relating to the deduction of input tax as respects the land. (5) For the purposes of this paragraph any question whether a person’s occupation of any land is “wholly, or substantially wholly,” for eligible purposes is to be decided by reference to criteria specified in a public notice.