Paragraph 10

(1)

This paragraph applies if each of conditions A to C is met before the end of the period of 30 days beginning with the effective date of the first transaction.

(2)

That transaction is not to be regarded for the purposes of TCGA 1992 as an acquisition by Q or a disposal by P.

(3)

If condition C is met by virtue of Q and P having entered into a leaseback agreement, the granting of the lease or sub-lease is not to be regarded for the purposes of TCGA 1992 as an acquisition by P or a disposal by Q.

(4)

Sub-paragraphs (2) and (3) are subject to paragraph 11 (treatment of transactions where any of conditions D to G is not met).

(5)

Where the interest in the land is replaced as the bond asset by an interest in other land, this paragraph is subject to paragraph 18.

(6)

This paragraph is also subject to paragraph 20.