Finance Leasing Manual - FLM37.22

Part II Schedule 12: third condition: finance lease or loan

The requirement here is that the condition in Paragraph 3(1) Schedule 12 FA 1997 should be satisfied (see FLM31.15). The only modification is that it must be satisfied at some point on or after 26 November 1996. The guidance in FLM31.15 should be applied subject to this timing modification.