Finance Leasing Manual - FLM31.79

Fifth condition: existence of 'arrangements' or 'circumstances'

The condition in Paragraph 3(5) Schedule 12 FA 1997 is that certain 'arrangements' or 'circumstances' must exist. Paragraph 4 then describes them in detail. In either case (whether 'arrangements' or 'circumstances'):

• it is first necessary to identify a possible future event (see FLM31.80);

• then whether there are either arrangements or circumstances in being at the time under consideration making it sufficiently likely that the future event will occur (see FLM31.85).

If so, the condition is satisfied.