# Land and Buildings Transaction Tax (Scotland) Act 2013, Paragraph 42C


For the purposes of paragraph 42B(b)—
(a) a “ relevant time ” means any time between the effective date of the transaction which was exempt from charge by virtue of this schedule and the buyer ceasing to be a member of the same group as the seller, and
(b) a company (“company A”) is “above” another company (“company B”) in a group structure if company B, or another company that is above company B in the group structure, is a 75% subsidiary of company A.

---
Source: https://www.legislation.gov.uk/asp/2013/11/schedule/10/paragraph/42C (the official version)
Page: https://openlegislation.uk/land-and-buildings-transaction-tax-scotland-act-2013/schedule-10/paragraph-42C
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.