Introduction
5
This Part of this Schedule defines conditions 1 to 7 for the purposes of paragraphs 13 to 16 and 18.
Condition 1
6
Condition 1 is that one person (“A”) and another (“B”) enter into arrangements under which—
(a) A transfers to B a qualifying interest in land (“the first transaction”), and
(b) A and B agree that when the interest ceases to be held by B as mentioned in paragraph 7(b), B will transfer the interest to A.
Condition 2
7
Condition 2 is that—
(a) B, as bond-issuer, enters into an alternative finance investment bond (whether before or after entering into the arrangements mentioned in
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