# Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017, Paragraph 5

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

(1) Sub-paragraph (2) applies where a chargeable interest is acquired by virtue of—
(a) the exercise of a power of appointment, or
(b) the exercise of a discretion vested in trustees of a settlement.
(2) Any consideration given for the person in whose favour the appointment was made or the discretion was exercised becoming an object of the power or discretion is to be treated as consideration for the acquisition of the interest.

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Source: https://www.legislation.gov.uk/anaw/2017/1/schedule/8/paragraph/5 (the official version)
Page: https://openlegislation.uk/land-transaction-tax-and-anti-avoidance-of-devolved-taxes-wales-act-2017/schedule-8/paragraph-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.