Finance Leasing Manual - FLM37.18

Second condition: material difference

A further condition which has to be satisfied before the second requirement (see FLM37.14) is met is that the contract in its final from is not 'materially different' from the contract as it stood when it was made. This is largely a question to be determined on the particular facts but in any event it should not be accepted that changes to the contract intended to take a lease which would have otherwise come within Part I Schedule 12 outside those provisions are non-'material'.