OpenLegislation

Paragraph 7A F1

(1)

The creation, issue, transfer, redemption or cancellation of units in a co-ownership authorised contractual scheme is an exempt transaction.

(2)

For the purposes of this paragraph—

  • “co-ownership authorised contractual scheme” means a co-ownership scheme which is authorised for the purposes of the Financial Services and Markets Act 2000 (the “2000 Act”) by an authorisation order in force under section 261D(1) of that Act,

  • “co-ownership scheme” has the meaning given in section 235A of the 2000 Act, and

  • “units” has the meaning given in section 237 of the 2000 Act.

Annotations

Textual amendments

F1

Sch. 1 para. 7A inserted (1.4.2026) by The Land and Buildings Transaction Tax (Co-ownership Authorised Contractual Schemes) (Scotland) Regulations 2026 (S.S.I. 2026/111), regs. 1, 3(2)