sec.245EParticular references to land, acquirer and land used for an eligible BTR development

### sec.245E Particular references to land, acquirer and land used for an eligible BTR development In this part— a reference to the land, in relation to a relevant transaction, is a reference to the land the subject of the relevant transaction; and a reference to the acquirer, in relation to a relevant transaction, is a reference to the acquirer under the relevant transaction. Also, a reference in this part to land used for an eligible BTR development at a particular time, rather than for a financial year, is a reference to land to which both of the following apply— the land is land used for an eligible BTR development for the financial year during which the particular time occurs; during the period starting at midnight on 30 June immediately preceding the particular time and ending at the particular time, nothing has happened that would prevent the land being land used for an eligible BTR development for the financial year starting on the next 1 July. During the period mentioned in paragraph (b) , the percentage of dwellings in the eligible BTR development that are discounted rent dwellings within the meaning of the Land Tax Act 2010 is less than 10% for more than 30 days. During the period mentioned in paragraph (b) , the dwellings in the eligible BTR development cease to be managed in compliance with the Land Tax Act 2010 , section 58M . s 245E ins 2023 No. 18 s 4 (sec.245E-ssec.1) In this part— a reference to the land, in relation to a relevant transaction, is a reference to the land the subject of the relevant transaction; and a reference to the acquirer, in relation to a relevant transaction, is a reference to the acquirer under the relevant transaction. (sec.245E-ssec.2) Also, a reference in this part to land used for an eligible BTR development at a particular time, rather than for a financial year, is a reference to land to which both of the following apply— the land is land used for an eligible BTR development for the financial year during which the particular time occurs; during the period starting at midnight on 30 June immediately preceding the particular time and ending at the particular time, nothing has happened that would prevent the land being land used for an eligible BTR development for the financial year starting on the next 1 July. During the period mentioned in paragraph (b) , the percentage of dwellings in the eligible BTR development that are discounted rent dwellings within the meaning of the Land Tax Act 2010 is less than 10% for more than 30 days. During the period mentioned in paragraph (b) , the dwellings in the eligible BTR development cease to be managed in compliance with the Land Tax Act 2010 , section 58M . - (a) a reference to the land, in relation to a relevant transaction, is a reference to the land the subject of the relevant transaction; and - (b) a reference to the acquirer, in relation to a relevant transaction, is a reference to the acquirer under the relevant transaction. - (a) the land is land used for an eligible BTR development for the financial year during which the particular time occurs; - (b) during the period starting at midnight on 30 June immediately preceding the particular time and ending at the particular time, nothing has happened that would prevent the land being land used for an eligible BTR development for the financial year starting on the next 1 July. Examples of matters that would prevent the land being land used for an eligible BTR development for the financial year starting on the next 1 July— 1 During the period mentioned in paragraph (b) , the percentage of dwellings in the eligible BTR development that are discounted rent dwellings within the meaning of the Land Tax Act 2010 is less than 10% for more than 30 days. 2 During the period mentioned in paragraph (b) , the dwellings in the eligible BTR development cease to be managed in compliance with the Land Tax Act 2010 , section 58M . - 1 During the period mentioned in paragraph (b) , the percentage of dwellings in the eligible BTR development that are discounted rent dwellings within the meaning of the Land Tax Act 2010 is less than 10% for more than 30 days. - 2 During the period mentioned in paragraph (b) , the dwellings in the eligible BTR development cease to be managed in compliance with the Land Tax Act 2010 , section 58M . - 1 During the period mentioned in paragraph (b) , the percentage of dwellings in the eligible BTR development that are discounted rent dwellings within the meaning of the Land Tax Act 2010 is less than 10% for more than 30 days. - 2 During the period mentioned in paragraph (b) , the dwellings in the eligible BTR development cease to be managed in compliance with the Land Tax Act 2010 , section 58M .