OpenLegislation

Regulation 107 Disposal of redundant land in exchange for vacant landI1

England and Wales Not yet in force

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

In the case of non-monetary consideration received in respect of a disposal of an interest in land, the amount falling to be set aside under section 61(4) in respect of the consideration shall be nil where—

(a)

the land has not been used for the purpose for which it was held by the authority at any time during the period beginning two years before the date of the disposal; and

(b)

the consideration consists of an interest in other land on which, immediately before the vesting of that interest in the authority, there are no buildings or other structures.

Annotations

Commencement

I1

Reg. 107 in force at 1.4.1997, see reg. 1(1)(b)