Stamp Duty Land Tax Citation, commencement and interpretation 1 1 These Regulations may be cited as the Stamp Duty Land Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) (Amendment) Regulations 2012 and come into force on 1st November 2012. 2 In these Regulations— “the principal Regulations ” means the Stamp Duty Land Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) Regulations 2005 . Amendment of the Principal Regulations 2 The principal Regulations are amended as follows. 3 For regulation 1(2) of the principal Regulations substitute— 2 In these Regulations— “chargeable interests” has the meaning given by section 48 of the Finance Act 2003 ; “partnership” has the meaning given by paragraph 1 of Schedule 15 to the Finance Act 2003; “settlement” has the meaning given by paragraph 1 of Schedule 16 to the Finance Act 2003. . 4 For regulation 1(3) of the principal Regulations substitute — 3 For the purposes of these Regulations, section 1122 of the Corporation Tax Act 2010 applies to determine whether persons are connected. . 5 1 For regulation 2 (prescribed description of arrangements in relation to stamp duty land tax) of the principal Regulations substitute— 2 1 For the purposes of Part 7 of the Finance Act 2004 (disclosure of tax avoidance schemes) the arrangements specified in paragraph (2) are prescribed in relation to stamp duty land tax. 2 The arrangements are those which involve the acquisition of chargeable interests. 3 Subject to paragraph (4) below, arrangements are excepted from disclosure under this regulation if— a they are excluded by virtue of the provisions in the Schedule to these Regulations; or b they are of the same, or substantially the same, description as arrangements which were first made available for implementation before 1st April 2010. 4 Arrangements are not excepted from disclosure under paragraph (3)(b) above where— a a chargeable interest is acquired under a contract, the substantial performance or completion of which falls to be disregarded under section 45(3) of the Finance Act 2003, and b the secondary contract referred to in section 45(3) of the Finance Act 2003 arises from a transaction with one or more of these features— i a distribution in specie ; ii an acquisition by a partnership; iii an acquisition by a settlement; iv an element of gift or transfer at an undervalue; v the grant of an option; vi an assignment or novation. 5 In paragraph (4)(b) above a distribution in specie means a distribution of an asset in physical form without selling it and distributing the proceeds of sale. . 6 In the Schedule to the principal Regulations (excluded arrangements), for paragraph (a) in Step B: Claims to relief, substitute— a a single claim to relief under any of the following provisions of the Finance Act 2003— i section 57A (sale and leaseback arrangements); ii section 58B (relief for new zero-carbon homes); iii section 58C( c ) (relief for new zero-carbon homes: supplemental); iv section 60 (compulsory purchase facilitating development); v section 61 (compliance with planning obligation); vi section 63 (demutualisation of insurance company); vii section 64 (demutualisation of building society); viii section 65 (incorporation of limited liability partnership); ix section 66 (transfers involving public bodies); x section 67 (transfer in consequence of reorganisation of parliamentary constituencies); xi section 69 (acquisition by bodies for national purposes); xii section 71 (certain acquisitions by registered social landlords); xiii section 74 (collective enfranchisement by leaseholders); xiv section 75 (crofting community right to buy); xv Schedule 6 (disadvantaged areas relief); xvi Schedule 6A (relief for certain acquisitions of residential property); xvii Schedule 6B (transfers involving multiple dwellings); xviii Schedule 7 (group relief and reconstruction acquisition relief); xix Schedule 8 (charities relief); xx Schedule 9 (right to buy, shared ownership leases etc ); or aa a single claim to relief under Schedule 61 to Finance Act 2009 (alternative finance investment bonds); or . Michael Fabricant James Duddridge Two of the Lords Commissioners of Her Majesty’s Treasury 17th September 2012