(1)In section 47(1) of FA 2003 (exchanges), insert at the end “ (and they are not linked transactions within the meaning of section 108) ”.
(2)In section 108 of that Act (linked transactions), insert at the end—
“(4)This section is subject to section 47(1).”
(3)The amendments made by this section have effect in relation to a set of land transactions if the effective date of any of them is on or after the day on which this Act is passed.