[45A Contract providing for conveyance to third party: effect of transfer of rights]
Finance Act 2003 (2003 c 14) | Legislation

[45A  Contract providing for conveyance to third party: effect of transfer of rights]

[(1)     This section applies where—

(a)     a contract (“the original contract”) is entered into under which a chargeable interest is to be conveyed by one party to the contract (A) at the direction or request of the other (B)—

(i)     to a person (C) who is not a party to the contract, or

(ii)     either to such a person or to B,

and

(b)     there is an assignment or other transaction (relating to the whole or part of the subject-matter of the original contract) as a result of which a person (D) becomes entitled to exercise any of B's rights under the original contract in place of B.

References in the following provisions of this section to a

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