SCHEDULE 12RELIEF FOR INCORPORATION OF LIMITED LIABILITY PARTNERSHIP
Condition B
3
Condition B is that at the relevant time the transferor—
(a)
is a partner in a partnership comprised of all the persons who are, or are to be, members of the limited liability partnership (and no-one else), or
(b)
holds the chargeable interest as nominee or bare trustee for one or more of the partners in such a partnership.