Withdrawal of money etc. from partnership after transfer of a chargeable interest8

1

This article applies where paragraph 17A(1) of Schedule 15 to the 2003 Act applies and—

a

the effective date of the land transfer referred to in paragraph 17A(1)(a) of that Schedule is prior to the commencement date; and

b

the qualifying event referred to in paragraph 17A(1)(c) of that Schedule occurs after the commencement date.

2

Where this article applies—

a

the land transfer referred to in paragraph (1) shall be treated for the purposes of paragraph 18 of schedule 17 to the Act as if it were a land transfer mentioned in paragraph 18(1) of that schedule; and

b

a qualifying event referred in paragraph 17A(2) of Schedule 15 to the 2003 Act shall be treated as if it were a qualifying event for the purposes of paragraph 18(2) of schedule 17 to the Act.