24U.K.No charge to tax shall arise by virtue of section 36 of the Taxes Act 1988 (charge on sale of land with right to reconveyance) where the sale in question is constituted by a disposition to a franchise company—
(a)by virtue of a transfer scheme;
(b)pursuant to an obligation imposed by a transfer scheme by virtue of section 91(1)(c) of the M1Railways Act 1993; or
(c)pursuant to paragraph 2 of Schedule 8 to that Act.
Marginal Citations