SCHEDULE 7Alternative property finance relief

PART 2Alternative property finance: arrangements relieved

Land sold to financial institution and re-sold to person

I113

Paragraphs 14 and 15 apply where arrangements are entered into between a person and a financial institution under which—

a

the institution—

i

purchases a major interest in land (“the first transaction”), and

ii

sells that interest to the person (“the second transaction”), and

b

the person grants the institution a standard security over that interest.