Land and Buildings Transaction Tax (Scotland) Act 2013 section Schedule 6 paragraph 3

Definition of a tenant-controlled registered social landlord

Schedule 6 paragraph 3 clarifies what is meant by a registered social landlord that is "controlled by its tenants" for the purposes of the relief provisions in paragraph 2(a).

• This paragraph provides a specific definition of tenant control for registered social landlords
• A registered social landlord is considered tenant-controlled when the majority of its board members are tenants
• The qualifying tenants must occupy properties that are owned or managed by that same registered social landlord
• This definition supports the relief available under paragraph 2(a) of Schedule 6 for certain transactions involving tenant-controlled registered social landlords