SCHEDULE 17Partnerships

PART 8Application of provisions on exemptions, reliefs and notification

Application of exemptions and reliefs: general

I1 37

1

Paragraph 1 of schedule 1 (exemption of transactions for which there is no chargeable consideration) does not apply to—

a

a transaction to which Part 4 applies,

b

a transaction to which Part 5 applies, or

c

a transfer of interest in a partnership which is treated as a land transaction by virtue of paragraph 17 or 32.

2

But subject to paragraphs 38 and 40 this schedule has effect subject to any other provision affording exemption or relief from the tax.