SCHEDULE 13

RELIEF FOR ACQUISITIONS INVOLVING MULTIPLE DWELLINGS

Certain buildings not yet constructed or adapted to count as a dwelling
8
1
For the purposes of this Schedule, the main subject-matter of a transaction is to be taken to consist of or include an interest in a dwelling if—
a
substantial performance of a contract constitutes the effective date of that transaction by virtue of a relevant deeming provision,
b
the main subject-matter of the transaction consists of or includes an interest in a building, or a part of a building, that is to be constructed or adapted under the contract for use as a dwelling, and
c
construction or adaptation of the building, or the part of a building, has not begun by the time the contract is substantially performed.
2
In sub-paragraph (1)—
- “"contract”” (“"contract”") includes any agreement;
- ““relevant deeming provision””(““darpariaeth dybio berthnasol””) means any of—
  1. section 10 (contract and transfer),
  2. section 11 (contract providing transfer to third party),
  3. paragraph 8(1) to (5) of Schedule 2 (assignment of rights: transferor treated as making a separate acquisition), or
  4. paragraph 20 of Schedule 6 (agreement for lease);
- “"substantially performed”” (“"cyflawni'n sylweddol”") has the meaning given by section 14.
3
Subsections (4) to (7) of section 72 (meaning of residential property) apply for the purposes of this paragraph as they apply for the purposes of subsection (1)(a) of that section.