7.—(1) This Part does not apply where—
(a)the recorded person owns or tenants the land as a trustee of a trust created for the purposes of insolvency or sequestration,
(b)the recorded person owns or tenants the land for or on behalf of a partnership to which Part 2 of this schedule applies,
(c)the recorded person owns or tenants the land for or on behalf of the members of an unincorporated body of persons to which Part 4 of this schedule applies.
(2) This Part does not apply where a person’s relationship to the trust is only that of—
(a)a paid professional advisor to the trust (such as a solicitor or an accountant),
(b)a creditor of the trust (such as the holder of a standard security), or
(c)a member of the judiciary presiding over proceedings in connection with the trust,
(d)a member of a body which has the right to exercise, or actually exercises significant influence or control over the trust by virtue of a function conferred by an enactment.
Commencement Information
I1Sch. 1 para. 7 in force at 1.4.2022, see reg. 1