Paragraph 2

(1)

For the purposes of this Part of this Act—

(a)

a chargeable interest held by or on behalf of a partnership is treated as held by or on behalf of the partners, and

(b)

a land transaction entered into for the purposes of a partnership is treated as entered into by or on behalf of the partners,

and not by or on behalf of the partnership as such.

(2)

Sub-paragraph (1) applies notwithstanding that the partnership is regarded as a legal person, or as a body corporate, under the law of the country or territory under which it is formed.