SCHEDULE 11RELIEF FOR ALTERNATIVE FINANCE INVESTMENT BONDS
PART 1INTRODUCTORY
1Overview
1
This Schedule makes provision for relief in the case of certain land transactions connected to alternative finance investment bonds.
2
The Schedule is arranged as follows—
a
this Part includes definitions of key terms (paragraph 2);
b
Part 2 provides that certain events relating to an alternative finance investment bond are not to be treated as chargeable transactions (paragraph 3) and provides for exceptions to that (paragraph 4);
c
Part 3 sets out the general conditions which apply to the operation of the reliefs provisions in Part 4;
d
Part 4 provides for relief for certain transactions (paragraphs 13 and 15) as well as making provision about withdrawal of relief (paragraph 14) and circumstances where relief is not available (paragraph 17);
e
Part 5 sets out how to apply the relief provisions in cases where the underlying asset is replaced by another asset (paragraph 18) and imposes a duty on WRA to notify the Chief Land Registrar when a charge registered under this Schedule is discharged (paragraph 19).