{
  "url": "https://openlegislation.uk/finance-act-2016/schedule-16/paragraph-14",
  "json_url": "https://openlegislation.uk/finance-act-2016/schedule-16/paragraph-14.json",
  "legislation": "ukpga/2016/24",
  "legislation_title": "Finance Act 2016",
  "legislation_url": "https://openlegislation.uk/finance-act-2016",
  "path": "schedule/16/paragraph/14",
  "kind": "paragraph",
  "number": "14",
  "heading": null,
  "text": "(1) In Schedule 17A (further provisions relating to leases), paragraph 11 (cases where assignment of lease treated as grant of lease) is amended as follows.\n(2) In sub-paragraph (3), after paragraph (b) insert—\n“(ba) Part 1 or 2 of Schedule 7A (PAIF seeding relief and COACS seeding relief);”.\n(3) In sub-paragraph (4), after “acquisition relief” insert “ , PAIF seeding relief, COACS seeding relief ”.\n(4) In sub-paragraph (5), after paragraph (b) insert—\n“(ba) in relation to the withdrawal of PAIF seeding relief—\n(i) the purchaser ceasing to be a property AIF as mentioned in paragraph 5 of Schedule 7A,\n(ii) a person making a relevant disposal of units as mentioned in paragraph 7 of that Schedule, or\n(iii) the grant of permission to a non-qualifying individual to occupy a dwelling as mentioned in paragraph 8 of that Schedule;\n(bb) in relation to the withdrawal of COACS seeding relief—\n(i) the purchaser ceasing to be a co-ownership authorised contractual scheme as mentioned in paragraph 13 of Schedule 7A,\n(ii) a person making a relevant disposal of units as mentioned in paragraph 17 of that Schedule, or\n(iii) the grant of permission to a non-qualifying individual to occupy a dwelling as mentioned in paragraph 18 of that Schedule;”.\n(5) After sub-paragraph (5) insert—\n“(6) This paragraph also does not apply where the relief in question is PAIF seeding relief or COACS seeding relief and is withdrawn as a result of a requirement not being met at a time which is before the effective date of the assignment of the lease.\n(7) For the purposes of sub-paragraph (6), the reference to a requirement not being met is a reference to—\n(a) in relation to the withdrawal of PAIF seeding relief under paragraph 6 of Schedule 7A, the portfolio test not being met (see paragraph 6(7));\n(b) in relation to the withdrawal of COACS seeding relief under paragraph 14 of Schedule 7A, the genuine diversity of ownership condition not being met (see paragraph 15);\n(c) in relation to the withdrawal of COACS seeding relief under paragraph 16 of Schedule 7A, the portfolio test not being met (see paragraph 16(7)).”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2016/24/schedule/16/paragraph/14",
    "retrieved_at": "2026-10-29T09:06:05.350093+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."
}