Commentary on Sections Relief for certain acquisitions involving public bodies
405.Paragraph 1 of this Schedule provides relief from LTT for certain land transactions entered into between qualifying public bodies in connection with a statutory reorganisation. Relief may also be claimed where the Welsh Ministers make regulations under sub-paragraph (2) where there is a reorganisation and one of the parties to the land transaction is a public body.
406.In this paragraph, “reorganisation” means changes involving:
	the establishment, reform or abolition of one or more public bodies;
	the creation, alteration or abolition of functions to be discharged by one or more public bodies; or
	the transfer of functions from one public body to another.
407.Sub-paragraph (4) provides a list of those entities that constitute a public body for the purposes of this paragraph. References to public body in this paragraph also include a company where all the shares of the company are owned by the public body and the public body is a wholly owned subsidiary of such a company.
408.The Welsh Ministers may add to the list of public bodies in sub-paragraph (4) by regulation.