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Land and Buildings Transaction Tax (Scotland) Act 2013
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Land sold to financial institution and leased to person
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5A transfer to the person that results from the exercise of the right mentioned in paragraph 2(c) (“the third transaction”) is exempt from charge if—
(a)the provisions of this Act relating to the first and second transactions are complied with, and
(b)at all times between the second and third transactions—
(i)the interest purchased under the first transaction is held by a financial institution, and
(ii)the lease or sub-lease granted under the second transaction is held by the person.
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