(1) In this section -
'EEA Agreement' means the Agreement on the European Economic Area signed at Oporto on 2 May 1992, as adjusted by the Protocol signed in Brussels on 17 March 1993;
'EEA State' means a state which is a contracting party to the EEA Agreement.
(2) This section applies to land or buildings situated in any EEA State (including the State) or in the United Kingdom -
(a) which, notwithstanding any provision in the Capital Gains Tax Acts fixing the amount of the consideration deemed to be received on a disposal or given on acquisition -
(i) were purchased for a consideration equal to their market value in the period commencing on 7 December 2011 and ending on 31 December 2014, or
(ii) were purchased in the period referred to in subparagraph (i) from a relative (within the meaning of section 10) and the consideration was not less than 75 per cent of their market value at the date they were purchased,
and
(b) which continue in the ownership of the person who purchased that la
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