Contract entered into before first relevant dateU.K.
3(1)Subject to the following provisions of this paragraph, a transaction is not an SDLT transaction if it is effected in pursuance of a contract entered into before the first relevant date.U.K.
(2)The “first relevant date” is the day after the passing of this Act.
(3)The exclusion of transactions effected in pursuance of contracts entered into before the first relevant date does not apply—
(a)if there is any variation of the contract or assignment of rights under the contract on or after that date;
(b)if the transaction is effected in consequence of the exercise after that date of any option, right of pre-emption or similar right;
(c)where the purchaser under the transaction is a person other than the purchaser under the contract because of a further contract made on or after that date.
Commencement Information
I1Sch. 19 wholly in force at Royal Assent subject to Sch. 19, see s. 124, Sch. 19 para. 1(1)