114Orders and regulations made by the Treasury or the Inland RevenueU.K.
(1)Except as otherwise provided, any power of the Treasury or the Inland Revenue to make an order or regulations under this Part, or under any other enactments relating to stamp duty land tax (including enactments passed after this Act), is exercisable by statutory instrument.
(2)Subsection (1) does not apply in relation to the power conferred by—
paragraph 8 of Schedule 5 to this Act (tax chargeable in respect of rent: power to prescribe temporal discount rate),
section 178(5) of the Finance Act 1989 (c. 26) (power to prescribe rates of interest).
(3)Except as otherwise provided, a statutory instrument containing any order or regulations made by the Treasury or the Inland Revenue under this Part, or under any other enactments relating to stamp duty land tax (including enactments passed after this Act), shall be subject to annulment in pursuance of a resolution of the House of Commons.
(4)Subsection (3) does not apply to a statutory instrument made under the power conferred by—
section 61(3) (compliance with planning obligations: power to add to list of public authorities);
paragraph 1(3) of Schedule 9 (right to buy transactions: power to add to list of relevant public sector bodies);
paragraph 2(2) of Schedule 19 (commencement and transitional provisions: power to appoint implementation date).
[F1(5)The first set of regulations under section 58B (new zero-carbon homes) may not be made unless a draft has been laid before and approved by resolution of the House of Commons.
(6)An order or regulations under this Part—
(a)may make provision having effect generally or only in specified cases or circumstances,
(b)may make different provision for different cases or circumstances, and
(c)may include incidental, consequential or transitional provision or savings.]
Textual Amendments
F1S. 114(5)(6) inserted (19.7.2007) by Finance Act 2007 (c. 11), s. 19(2)
Modifications etc. (not altering text)
C1S. 114(3) excluded (20.7.2005) by Finance (No. 2) Act 2005 (c. 22), s. 48(6)
Commencement Information
I1Pt. 4 wholly in force at Royal Assent subject to Sch. 19, see s. 124, Sch. 19 para. 1(1)