Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section Schedule 15 paragraph 9

Meaning of "shared ownership lease" and "qualifying body"

Schedule 15 paragraph 9 defines the key terms "shared ownership lease" and "qualifying body" for the purposes of the shared ownership lease provisions in Part 3 of Schedule 15.

• A shared ownership lease must be granted by a qualifying body and must meet specific conditions set out elsewhere in Schedule 15 (paragraphs 3(2) or 5(2)).
• A qualifying body is either a local housing authority (as defined in the Housing Act 1985) or a housing association (as defined in the Housing Associations Act 1985).
• These definitions apply across the shared ownership lease provisions, including the rules on staircasing transactions, market value elections, and rent-to-shared-ownership arrangements.
• Several original elements of this paragraph have been repealed, notably following the abolition of the right to buy in Wales, narrowing the scope of qualifying bodies.