Land (Duties and Taxes) (Amendment of Schedule) (No. 4) Regulations 2011 (GN No. 236 of 2011)

Land (Duties and Taxes) (Amendment of Schedule) (No. 4) Regulations 2011 GN No. 236 of 2011 THE LAND (DUTIES AND TAXES) ACT Regulations made by the Minister under section 47 of the Land (Duties and Taxes) Act 1. These regulations may be cited as the Land (Duties and Taxes) (Amendment of Schedule) (No. 4) Regulations 2011. 2. In these regulations – “Act” means the Land (Duties and Taxes) Act. 3. The Eighth Schedule to the Act is amended by adding the following new items, the full stop at the end of item (v) being deleted and replaced by a semicolon (w) witnessing the transfer of land to or of a housing unit Part II and Part III by a housing development trust, or any other non-profit vehicle, which carries out the construction of social housing estates and is registered with the committee set up under section 50L(3) of the Income Tax Act. (x) witnessing the transfer of an immovable property by Part III a bank, or non-bank deposit taking institution, under the Banking Act, where the property was acquired by the bank, or non-bank deposit taking institution in connection with the recovery of debts, provided that the transfer is made within a period of 12 months from the date of acquisition of the property. 4. These regulations shall come into operation on 1 January 2012. Made by the Minister on 28 December 2011.