# Finance Act 2003, Paragraph 2


(1) A pre-completion transaction is an “assignment of rights” if the entitlement of the transferee referred to in paragraph 1(2)(a) is an entitlement to exercise rights under the original contract.
(2) A pre-completion transaction other than an assignment of rights is referred to in this Schedule as a “free-standing transfer”.
(3) In this Schedule “the transferor”, in relation to a pre-completion transaction, means a party to the pre-completion transaction who immediately before the pre-completion transaction took place was entitled to call for a conveyance of (what became) the subject-matter of the pre-completion transaction.
(4) References in this Schedule to the “subject-matter” of a pre-completion transaction—
(a) are to the chargeable interest the conveyance of which the transferee is entitled to call for as a result of the pre-completion transaction, and
(b) include, so far as appropriate, any interest or right appurtenant or pertaining to the chargeable interest.

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Source: https://www.legislation.gov.uk/ukpga/2003/14/schedule/2A/paragraph/2 (the official version)
Page: https://openlegislation.uk/finance-act-2003/schedule-2A/paragraph-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.