# Finance Act 2002, Paragraph 4: Introduction


(1) This Part of this Schedule has effect for affording relief where ad valorem duty is chargeable both—
(a) under section 115 on a contract or agreement (“the original sale”), and
(b) on a subsequent conveyance or transfer by the original seller to the purchaser, or a sub-purchaser, in conformity with that contract or agreement.
(2) References in this Part to the purchaser under the original sale, or a sub-purchaser under a subsale, include a person by whom the rights of the purchaser, or a sub-purchaser, are exercisable by virtue of any assignment (in Scotland, assignation) or agreement (other than a subsale).

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Source: https://www.legislation.gov.uk/ukpga/2002/23/schedule/36/paragraph/4 (the official version)
Page: https://openlegislation.uk/finance-act-2002/schedule-36/paragraph-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.