SCHEDULE 11RELIEF FOR ALTERNATIVE FINANCE INVESTMENT BONDS
PART 4RELIEF FOR CERTAIN TRANSACTIONS
Relief for the first transaction
I113
1
The first transaction is relieved from tax if each of conditions 1 to 3 is met before the end of the period of 30 days beginning with the effective date of that transaction.
2
Where the qualifying interest in land is replaced as the bond asset by an interest in other land, sub-paragraph (1) is subject to paragraph 18 (replacement of asset).
3
Sub-paragraph (1) is also subject to paragraph 17 (no relief where bond-holder acquires control of underlying asset).