s 96 Meaning of “relevant disposal” etc in section 95
(1) This section applies for the purposes of section 95. (2) A disposal of the freehold estate in land is a relevant disposal of the land if it is a disposal with vacant possession. (3) A grant or assignment of a qualifying leasehold estate in land is a relevant disposal of the land if it is a grant or assignment with vacant possession. (4) If a relevant disposal within subsection (2) or (3) is made in pursuance of a binding agreement to make it, the disposal is entered into when the agreement becomes binding. (5) Subject to subsection (4), a relevant disposal within subsection (2) or (3) is entered into when it takes place. (6) In this section “ qualifying leasehold estate ”, in relation to any land, means an estate by virtue of a lease of the land for a term which, when granted, had at least 25 years to run. (7) The appropriate authority may by order amend this section.