6(1)The amendments made by this Schedule have effect in relation to any land transaction of which the effective date is, or is after, the commencement date.U.K.
(2)But those amendments do not have effect in relation to—
(a)a transaction effected in pursuance of a contract entered into and substantially performed before the commencement date, or
(b)a transaction that—
(i)is entered into pursuant to a contract entered into before 11 March 2020, and
(ii)is not excluded for the purposes of this paragraph.
(3)A transaction is excluded for the purposes of paragraph (b) of sub-paragraph (2) if—
(a)there is any variation of the contract, or assignment of rights under the contract, on or after 11 March 2020,
(b)the transaction is effected in consequence of the exercise on or after that date of any option, right of pre-emption or similar right, or
(c)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.
(4)In this paragraph “the commencement date” means 1 April 2021.