SCHEDULE 11RELIEF FOR ALTERNATIVE FINANCE INVESTMENT BONDS
PART 3CONDITIONS FOR OPERATION OF RELIEFS ETC.
Condition 1
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Condition 1 is that one person (““A””) and another (““B””) enter into arrangements under which—
a
A transfers to B a qualifying interest in land (““the first transaction””), and
b
A and B agree that when the interest ceases to be held by B as mentioned in paragraph 7(b), B will transfer the interest to A.