SCHEDULE 7PARTNERSHIPS
PART 2GENERAL PROVISIONS
Chargeable interests treated as held by partners etc.
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1
For the purposes of this Act—
a
a chargeable interest held by or on behalf of a partnership is treated as held by or on behalf of the partners, and
b
a land transaction entered into for the purposes of a partnership is treated as entered into by or on behalf of the partners,
and not by or on behalf of the partnership as such.
2
Sub-paragraph (1) applies despite a partnership being regarded as a legal person, or as a body corporate, under the law of the country or territory under which it is formed.