SCHEDULE 11RELIEF FOR ALTERNATIVE FINANCE INVESTMENT BONDS
PART 4RELIEF FOR CERTAIN TRANSACTIONS
Relief for the second transaction
I1C115
1
The second transaction is relieved from tax if—
a
each of conditions 1 to 7 is met, and
b
the provisions of this Act and TCMA in relation to the first transaction are complied with.
2
Where the qualifying interest in land is replaced as the bond asset by an interest in other land, sub-paragraph (1) is subject to paragraph 18 (replacement of asset).
3
Sub-paragraph (1) is also subject to paragraph 17 (no relief where bond-holder acquires control of underlying asset).