Finance Leasing Manual - FLM37.07

Part II: first condition: lease granted on or after 26 November 1996

In practice this condition will have limited independent significance. If a lease is part of a 'new scheme' (the second condition) it is extremely likely that the lease will have been granted on or after 26 November 1996. And if the lease is not part of a 'new scheme', Part II will not in any event apply since all the conditions have to be satisfied.

You should resist any contention that a lease which is admittedly a 'new scheme' was granted prior to 26 November 1996.