Regulation 6 Reserved part of non-housing capital receipts

Insert the following regulation after regulation 64—

“Reserved part of non-housing capital receipts

64A

(1)

Subject to paragraph (2), the reserved part shall be nil per cent. in the case of any capital receipt other than a capital receipt which is received in respect of a disposal of housing land.

(2)

This regulation does not apply to a capital receipt which is of a description for which the reserved part is specified in any of the following provisions of this Part.”.