SDLTM21520 - Outline of legislation

Outline of the legislation for pre-completion transactions

FA03/S45 introduces FA03/SCH2A which contains provisions about pre-completion transactions. The Schedule can be broken down into the following different areas.

Paragraphs 1-3	Introductory provisions and key definitions
Paragraphs 4-8	Assignments of rights
Paragraphs 9-11	Free-standing transfers
Paragraphs 12-14	Minimum consideration rule
Paragraphs 15-18	Relief for the transferor
Paragraph 19	Power to make regulations
Paragraphs 20-21	Additional definitions and interpretation