Application5
A transaction is excluded by this regulation if it is a transaction specified in regulation 3(a) which is effected in pursuance of a contract entered into before 22 December 2020 and where—
a
there is any variation of the contract, or assignment of rights under the contract, on or after 22 December 2020;
b
the transaction is effected in consequence of the exercise on or after 22 December 2020 of any option, right of pre-emption or similar right; or
c
on or after 22 December 2020 there is an assignment, subsale or other transaction relating to the whole or part of the subject-matter of the contract as a result of which a person other than the purchaser under the contract becomes entitled to call for a conveyance.