Finance Leasing Manual - FLM31.91

Lease ceasing to be within Part I: assignments

Assignments breaking Part I treatment must be to a person who is not connected with any of the following:

• the assignor;

• any person who was the assignor at some time before the assignment; or

• any person who becomes the lessor after the assignment if he does so pursuant to arrangements made by an earlier lessor or a connected person (Paragraph 2(2) and (3) Schedule 12 FA 1997).