12 Contract providing for transfer to third party: effect of transfer of rights
Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (2017 anaw 1) | Legislation

12  Contract providing for transfer to third party: effect of transfer of rights

(1)     This section applies where—

(a)     a contract (“the original contract”) is entered into under which a chargeable interest is to be transferred by one party to the contract (“P1”) at the direction or request of the other (“P2”)—

(i)     to a person (“P3”) who is not a party to the contract, or

(ii)     either to such a person or to P2, and

(b)     there is an assignment or other transaction (relating to the whole or part of the subject-matter of the original contract) as a result of which a person (“P4”) becomes entitled to exercise any of P2's rights under the original contract in place of P2.

(2)     References in the following provisions

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