653Z. Transfer of relevant site

(1) For the purpose of this Part, ‘sale’ includes, in relation to a relevant site, the transfer of the relevant site by a liable person to another person—

(a) in consequence of—

(i) the exercise of a power under any enactment to compulsorily acquire land, or

(ii) the giving of notice of intention to exercise the power referred to in subparagraph (i),

(b) for no consideration or consideration which is significantly less than the market value of the relevant site at the time of its transfer, or

(c) entering into a lease, or an agreement for lease, the term of which is indefinite or exceeds 35 years.

(2) A liable person who proposes to sell a relevant site shall, before the completion of the sale of the relevant site, pay to the Revenue Commissioners the residential zoned land tax and accrued interest, if any, which is due and payable in respect of that relevant site.

(3) A liable person who proposes to sell a relevant site shall—

(a) seek to agree any penalty due in respect of residential zoned land tax before the date of completion of the sale of the relevant site, and

(b) pay—

(i) a penalty determined in accordance with this Act before the date of completion of the sale of the relevant site, or

(ii) where a penalty has been agreed before that date, that penalty, before that date.

(4) The Revenue Commissioners shall provide a liable person, or a person acting on behalf of the liable person in connection with a sale of a relevant site, with—

(a) confirmation of any unpaid residential zoned land tax, penalties and accrued interest at the date of the sale of a relevant site, or

(b) confirmation that there are no outstanding amounts payable,

as the case may be, in such form and manner as the Revenue Commissioners may decide.

(5) A liable person who proposes to sell a relevant site shall, before the completion of the sale of the relevant site, prepare and deliver to the Revenue Commissioners, or have prepared and delivered on behalf of the liable person, a return in such form as the Revenue Commissioners may prescribe for that purpose.

(6) Without prejudice to the generality of subsection (5), the Revenue Commissioners may prescribe the following information to be included in a return referred to in that subsection:

(a) in respect of a relevant site—

(i) the date of acquisition,

(ii) the market value, at the date of acquisition,

(iii) the market value, at the most recent valuation date, if a valuation date has occurred since the date of acquisition,

(iv) the proposed date of sale, and

(v) the proposed consideration on the sale;

(b) in respect of a liable person or designated liable person (as determined in accordance with section 653V)—

(i) the person’s name,

(ii) the person’s TIN,

(iii) the nature of the person’s ownership interest in the site,

(iv) the person’s address for correspondence,

(v) confirmation as to whether that person and the purchaser are connected persons (within the meaning of section 10), and

(vi) where there is more than one owner in relation to a relevant site, the information referred to in subparagraphs (i) to (v) in respect of each owner;

(c) in respect of the purchaser of the relevant site—

(i) the person’s name,

(ii) the person’s TIN,

(iii) the person’s address for correspondence, and

(iv) where there is more than one purchaser in relation to a relevant site, the information referred to in subparagaphs (i) to (iii) in respect of each purchaser;

(d) the unique identification number issued by the Revenue Commissioners under section 653S(3), where one has been issued.