OpenLegislation

Regulation 111 Disposal of land in exchange for right to use the land after enhancementI1

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 person to whom the disposal is made carries out works for the enhancement of the land; and

(b)

the consideration consists of, or includes, the grant of a leasehold or lesser interest which confers on the authority a right to use the land after the completion of the works.

Annotations

Commencement

I1

Reg. 111 in force at 1.4.1997, see reg. 1(1)(b)