Land and Buildings Transaction Tax (Scotland) Act 2013 Schedule 16 paragraph 6

Definition of "company" for public bodies relief

Paragraph 6 of Schedule 16 defines the meaning of "company" as used in the provisions about public bodies and their subsidiaries qualifying for LBTT relief.

• The definition of "company" applies specifically to paragraphs 4 and 5 of Schedule 16, which identify public bodies and their related entities eligible for relief.
• "Company" takes the same meaning as in section 1 of the Companies Act 2006 — that is, a body corporate formed and registered under that Act or its predecessor legislation.
• This ensures that only entities formally incorporated under the Companies Act framework can qualify as companies for the purposes of public bodies relief from LBTT.
• The definition is relevant when determining whether a subsidiary of a public body is itself eligible for relief, since paragraphs 4 and 5 refer to companies controlled by or associated with listed public bodies.