151 Lease or tack: associated bodies
Finance Act 1995 (1995 c 4) | Legislation

151  Lease or tack: associated bodies

(1)     Stamp duty under [Part II of Schedule 13 to the Finance Act 1999 (lease)] shall not be chargeable on an instrument which is—

(a)     a [lease],

(b)     an agreement for a [lease], or

(c)     an agreement with respect to a letting,

as respects which the condition in subsection (2) below is satisfied.

[This subsection is subject to subsection (4A) below.]

(2)     The condition is that it is shown to the satisfaction of the Commissioners of Inland Revenue that—

(a)     the lessor is a body corporate and the lessee is another body corporate,

(b)     those bodies are associated at the time the instrument is executed,

(c)     in the case of an agreement, the agreement is for the [lease] or letting to be granted to the lessee or to a body corporate which is associated with the lessee at the time the instrument is executed, and

(d)     the instrument is not executed in pursuance of or in connection with an arrangement falling within subsection (3) below.

(3)     An arrangement falls within this subsection if it is one under which—

(a)     the consideration, or any part of the consideration, for the [lease] or

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