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Textual Amendments
F1Sch. 2A inserted (with effect in accordance with Sch. 39 para. 11 of the amending Act) by Finance Act 2013 (c. 29), Sch. 39 para. 3
2(1)A pre-completion transaction is an “assignment of rights” if the entitlement of the transferee referred to in paragraph 1(2)(a) is an entitlement to exercise rights under the original contract.U.K.
(2)A pre-completion transaction other than an assignment of rights is referred to in this Schedule as a “free-standing transfer”.
(3)In this Schedule “the transferor”, in relation to a pre-completion transaction, means a party to the pre-completion transaction who immediately before the pre-completion transaction took place was entitled to call for a conveyance of (what became) the subject-matter of the pre-completion transaction.
(4)References in this Schedule to the “subject-matter” of a pre-completion transaction—
(a)are to the chargeable interest the conveyance of which the transferee is entitled to call for as a result of the pre-completion transaction, and
(b)include, so far as appropriate, any interest or right appurtenant or pertaining to the chargeable interest.]