SCHEDULES

F1SCHEDULE 4 TRANSITIONAL PROVISIONS RELATING TO DEVELOPMENT GAINS

Conditional contracts entered into before 18th December 1973

3

If the disposal of an asset under a conditional contract entered into before 18th December 1973 is made for a consideration not depending wholly or mainly on the value of the asset at the time the condition is satisfied, then for the purposes of subsection (1) of the principal section the contract shall in relation to the disposal be treated (on the condition being satisfied) as if it had never been conditional.