{
  "url": "https://openlegislation.uk/finance-act-1988/schedule-4/paragraph-16",
  "json_url": "https://openlegislation.uk/finance-act-1988/schedule-4/paragraph-16.json",
  "legislation": "ukpga/1988/39",
  "legislation_title": "Finance Act 1988",
  "legislation_url": "https://openlegislation.uk/finance-act-1988",
  "path": "schedule/4/paragraph/16",
  "kind": "paragraph",
  "number": "16",
  "heading": null,
  "text": "(1) Section 50 of this Act does not apply to a dwelling-house if—\n(a) a certificate has been issued under section 306(2) of the Taxes Act 1988 (as modified by paragraph 10 above) by some other company (“the other company”); and\n(b) at any time after the issue of the shares to which that certificate related, the conditions mentioned in sub-paragraph (2) below were satisfied in relation to the dwelling-house (or a dwelling-house the whole or any part of which has been converted into or consists of the whole or any part of the dwelling-house).\n(2) The conditions referred to in sub-paragraph (1) above are satisfied in relation to a dwelling-house at any time if, at that time—\n(a) the dwelling-house is a dwelling-house to which section 50 of this Act applies in relation to the other company or any of its subsidiaries; and\n(b) an interest in the dwelling-house is owned by that company or any such subsidiary.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1988/39/schedule/4/paragraph/16",
    "retrieved_at": "2026-10-29T09:47:50.591815+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}