Finance Act 2003

[F1 Other key expressions U.K.

Textual Amendments

F1 Sch. 2A inserted (with effect in accordance with Sch. 39 para. 11 of the amending Act) by Finance Act 2013 (c. 29), Sch. 39 para. 3

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. U.K.

(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.]