Real Property (Transfer Tax, Charging and Related Provisions) (Sark) (Amendment) Law, 2010

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PROJET DE LOI

ENTITLED

The Real Property (Transfer Tax, Charging and Related Provisions) (Sark) (Amendment) Law, 2010

THE CHIEF PLEAS OF SARK, in pursuance of their Resolution of the 30th September, 2009, have approved the following provisions which, subject to the Sanction of Her Most Excellent Majesty in Council, shall have force of law in the Island of Sark.

Amendment of 2007 Law.

1. Immediately after section 1(1) of the Real Property (Transfer Tax, Charging and Related Provisions) (Sark) Law, 2007[a] ("the Law") there is inserted the following additional subsection -

"(1A). For the avoidance of doubt, and without limitation, a surrender of, or other transaction extinguishing, a long leasehold interest in any real property situated in Sark is a relevant property transaction for the purposes of this Law.".

Citation..

2. This Law may be cited as the Real Property (Transfer Tax, Charging and Related Provisions) (Sark) (Amendment) Law, 2010.

Commencement.

3. This Law shall come into force on the day it is registered on the Records of the Island of Sark.

[a]	Order in Council No. VI of 2008.