{
  "url": "https://openlegislation.uk/british-waterways-board-tax-consequences-order-2012/article-9",
  "json_url": "https://openlegislation.uk/british-waterways-board-tax-consequences-order-2012/article-9.json",
  "legislation": "uksi/2012/1709",
  "legislation_title": "The British Waterways Board (Tax Consequences) Order 2012",
  "legislation_url": "https://openlegislation.uk/british-waterways-board-tax-consequences-order-2012",
  "path": "article/9",
  "kind": "article",
  "number": "9",
  "heading": "Stamp duty land tax",
  "text": "(1) A land transaction entered into on, or in consequence of, or in connection with, a relevant transfer is exempt from the charge to stamp duty land tax.\n(2) Where in the case of a transaction (“the relevant transaction”) that is exempt by virtue of paragraph (1) (“the exemption”)—\n(a) a disqualifying event occurs—\n(i) before the end of the period of three years beginning with the effective date of the relevant transaction, or\n(ii) in pursuance of, or in connection with, arrangements made before the end of that period,\nand\n(b) at the time of the disqualifying event CRT, or CRT CIC, holds a chargeable interest—\n(i) that was acquired by CRT, or CRT CIC, under the relevant transaction, or\n(ii) that is derived from such an interest so acquired,\nthe exemption in relation to the relevant transaction is withdrawn in whole, or in an appropriate proportion in the case of CRT where applicable, and tax is chargeable in accordance with paragraph (3).\n(3) The amount chargeable is the amount—\n(a) that would have been chargeable on CRT or CRT CIC in respect of the relevant transaction but for the exemption, or\n(b) in the case of CRT where applicable, an appropriate proportion of the tax that would have been so chargeable.\n(4) For the purposes of paragraph (2) a “disqualifying event” means—\n(a) for a relevant transaction involving either CRT or CRT CIC—\n(i) CRT ceasing to be established for charitable purposes only, or\n(ii) the subject matter of the relevant transaction, or any interest or right derived from it, being used or held by CRT otherwise than for qualifying charitable purposes;\n(b) for a relevant transaction involving CRT CIC, it ceasing to be a wholly-owned subsidiary of CRT.\n(5) For the purposes of sub-paragraph (a) of paragraph (2) “effective date” has the same meaning as in section 119 of the Finance Act 2003.\n(6) For the purposes of this article—\n(a) “appropriate proportion” means an appropriate proportion having regard to—\n(i) what was acquired by CRT under the relevant transaction and what is held by CRT at the time of the disqualifying event, and\n(ii) the extent to which what is held by CRT at that time becomes used or held for purposes other than qualifying charitable purposes;\n(b) “qualifying charitable purposes” has the same meaning as in paragraph 1(2) of Schedule 8 to the Finance Act 2003 and references to “purchaser” are to be read as references to CRT.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "2003 c. 14."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2012/1709/article/9",
    "retrieved_at": "2026-10-29T01:27:02.817425+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}