Point in time view as at 08/02/2023.
Finance Act 2003, Paragraph 3 is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
3(1)Subject to the following provisions of this paragraph, a transaction is not an SDLT transaction if it is effected in pursuance of a contract entered into before the first relevant date.U.K.
(2)The “first relevant date” is the day after the passing of this Act.
(3)The exclusion of transactions effected in pursuance of contracts entered into before the first relevant date does not apply—
(a)if there is any variation of the contract or assignment of rights under the contract on or after that date;
(b)if the transaction is effected in consequence of the exercise after that date of any option, right of pre-emption or similar right;
[F1(c)if on or after that date there is an assignment, subsale or other transaction (relating to the whole or part of the subject-matter of the contract) as a result of which a person other than the purchaser under the contract becomes entitled to call for a conveyance to him.]
Textual Amendments
F1Sch. 19 para. 3(3)(c) substituted (with effect in accordance with Sch. 39 para. 13(3)-(6) of the amending Act) by Finance Act 2004 (c. 12), Sch. 39 para. 12
Commencement Information
I1Sch. 19 wholly in force at Royal Assent subject to Sch. 19, see s. 124, Sch. 19 para. 1(1)
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