# Finance Act 2003, Section 117: Meaning of “major interest” in land

Extent: E+W+S+N.I.

(1) References in this Part to a “major interest” in land shall be construed as follows.
(2) In relation to land in England ... , the references are to—
(a) an estate in fee simple absolute, or
(b) a term of years absolute,
whether subsisting at law or in equity.
(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4) In relation to land in Northern Ireland, the references are to—
(a) any freehold estate, or
(b) any leasehold estate,
whether subsisting at law or in equity.

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Source: https://www.legislation.gov.uk/ukpga/2003/14/section/117 (the official version)
Page: https://openlegislation.uk/finance-act-2003/section-117
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.