Paragraph 25 Broadcasting Act 1996

In Schedule 7 of the Broadcasting Act 1996^f1, paragraph 25 is amended as follows.

For the heading substitute “Stamp duty and stamp duty land tax”.

After sub-paragraph (1) insert—

“(1A)

A land transaction which is effected by a restructuring scheme, or effected in accordance with, or in pursuance of an obligation imposed by a restructuring scheme is exempt from charge for the purposes of stamp duty land tax.

(1B)

Relief under sub-paragraph (1A) must be claimed in a land transaction return or an amendment of such a return.”.

In sub-paragraph (4), after “In this paragraph—” insert—

• ““land transaction” has the meaning given in section 43(1) of the Finance Act 2003;

• “land transaction return” has the meaning given by section 76(1) of that Act;”.