F1SCHEDULE 2ATransactions entered into before completion of contract
Other key expressions
2
(1)
A pre-completion transaction is an “assignment of rights” if the entitlement of the transferee referred to in paragraph 1(2)(a) is an entitlement to exercise rights under the original contract.
(2)
A pre-completion transaction other than an assignment of rights is referred to in this Schedule as a “free-standing transfer”.
(3)
In this Schedule “the transferor”, in relation to a pre-completion transaction, means a party to the pre-completion transaction who immediately before the pre-completion transaction took place was entitled to call for a conveyance of (what became) the subject-matter of the pre-completion transaction.
(4)
References in this Schedule to the “subject-matter” of a pre-completion transaction—
(a)
are to the chargeable interest the conveyance of which the transferee is entitled to call for as a result of the pre-completion transaction, and
(b)
include, so far as appropriate, any interest or right appurtenant or pertaining to the chargeable interest.