[157 Land in England, Wales or Northern Ireland sold to financial institution and leased to person]
Finance Act 2013 (2013 c 29) | Legislation

Alternative property finance

[157  Land in England, Wales or Northern Ireland sold to financial institution and leased to person]

(1)     This section applies where—

(a)     section 71A of FA 2003 (land sold to financial institution and leased to person) . . . applies in relation to arrangements entered into between a financial institution and another person (“the lessee”), and

(b)     the land in which the institution purchases a major interest under the first transaction [is in England, Wales or Northern Ireland and] consists of or includes one or more dwellings (or parts of a dwelling).

(2)     If the lessee is a company, this Part has effect in relation to times when the arrangements are in operation as if—

(a)     the interest held by the financial institution as mentioned

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