Leases of land: further provision as to the application of exemptions conferred by section 92 or by Schedule 30
4.—(1) This regulation applies where the instrument in question is a lease of land.
(2) Subject to paragraph (4), an exemption conferred by section 92 or by Schedule 30 shall not apply in the cases specified by paragraph (3) below.
(3) The cases specified by this paragraph are cases where—
(a)all the land in question is residential property, and
(b)subject to regulation 6, the rate or average rate of rent is more than £15,000.
(4) Nothing in this regulation affects the application of an exemption conferred by section 92 or by Schedule 30 in relation to stamp duty chargeable in respect of the amount or value of relevant consideration.