SCHEDULE 6E+WLEASES

PART 3 E+WRENT AND OTHER CONSIDERATION

Reverse premiumsE+W

15(1)In the case of the grant, assignment or surrender of a lease a reverse premium does not count as chargeable consideration.E+W

(2)A “"reverse premium”” means—

(a)in relation to the grant of a lease, a premium moving from the landlord to the tenant;

(b)in relation to the assignment of a lease, a premium moving from the assignor to the assignee;

(c)in relation to the surrender of a lease, a premium moving from the tenant to the landlord.