{
  "url": "https://openlegislation.uk/finance-act-2003/section-117",
  "json_url": "https://openlegislation.uk/finance-act-2003/section-117.json",
  "legislation": "ukpga/2003/14",
  "legislation_title": "Finance Act 2003",
  "legislation_url": "https://openlegislation.uk/finance-act-2003",
  "path": "section/117",
  "kind": "section",
  "number": "117",
  "heading": "Meaning of “major interest” in land",
  "text": "(1) References in this Part to a “major interest” in land shall be construed as follows.\n(2) In relation to land in England ... , the references are to—\n(a) an estate in fee simple absolute, or\n(b) a term of years absolute,\nwhether subsisting at law or in equity.\n(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(4) In relation to land in Northern Ireland, the references are to—\n(a) any freehold estate, or\n(b) any leasehold estate,\nwhether subsisting at law or in equity.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in s. 117(2) omitted (1.4.2018 with effect in accordance with s. 16(4)(5) of the amending Act) by virtue of Wales Act 2014 (c. 29), s. 29(2)(b)(3), Sch. 2 para. 8; S.I. 2018/214, art. 2(a)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "S. 117(3) omitted (with effect in accordance with s. 29(4) of the amending Act) by virtue of Scotland Act 2012 (c. 11), s. 44(2)(b)(3)(b), Sch. 3 para. 20 (with s. 29(5)(6)); S.I. 2015/637, art. 2"
    },
    {
      "type": "I",
      "label": "I1",
      "text": "Pt. 4 wholly in force at Royal Assent subject to Sch. 19, see s. 124, Sch. 19 para. 1(1)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2003/14/section/117",
    "retrieved_at": "2026-10-29T09:18:27.996599+00:00",
    "licence": "OGL-UK-3.0",
    "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."
  }
}