SCHEDULES

SCHEDULE 2Transitionals and savings

Part 7Property income

Lease premiums: meaning of “premium”

48

1

In relation to a lease granted after 12 June 1969 and before 25 August 1971 sections 246 and 247 have effect with the following modifications.

2

Section 246 has effect with the omission of subsections (4) and (5).

3

Section 247 has effect with the omission of—

a

the words “or to a person connected with such a person” in subsection (1), and

b

subsection (2).