Schedule 2, Part II, paragraph 23A

Rights under any arrangement for the provision of finance under which the person providing the finance either— as part of the arrangement. acquires a major interest in land from the person to whom the finance is provided, or disposes of a major interest in land to that person, References in sub-paragraph (1) to a “major interest” in land are to— in relation to land in England or Wales— whether subsisting at law or in equity; an estate in fee simple absolute, or a term of years absolute, in relation to land in Scotland— the interest of an owner of land, or the tenant's right over or interest in a property subject to a lease; in relation to land in Northern Ireland— whether subsisting at law or in equity. any freehold estate, or any leasehold estate, It is immaterial for the purposes of sub-paragraph (1) whether either party acquires or (as the case may be) disposes of the interest in land— directly, or indirectly.

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Source: legislation.gov.uk · retrieved 2026-09-04