Section 60 — Finance Act 2003: Compulsory purchase facilitating development

Compulsory purchase facilitating development 60 1 A compulsory purchase facilitating development is exempt from charge.

2 In this section “ compulsory purchase facilitating development ” means—

a in relation to England ... ..., the acquisition by a person of a chargeable interest in respect of which that person has made a compulsory purchase order for the purpose of facilitating development by another person;

b in relation to Northern Ireland, the acquisition by a person of a chargeable interest by means of a vesting order made for the purpose of facilitating development by a person other than the person who acquires the interest.

3 For the purposes of subsection (2)(a) it does not matter how the acquisition is effected (so that provision applies where the acquisition is effected by agreement).

4 In subsection (2)(b) a “ vesting order ” means an order made under any statutory provision to authorise the acquisition of land otherwise than by agreement.

5 In this section “ development ”—

a in relation to England ..., has the same meaning as in the Town and Country Planning Act 1990 (c. 8) (see section 55 of that Act);

b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . c in relation to Northern Ireland, has the same meaning as in the Planning Act (Northern Ireland) 2011 (see section 23 of that Act).