Paragraph 14 I1

(1)

In the case of the grant, assignation or renunciation of a lease a reverse premium does not count as chargeable consideration.

(2)

A “ reverse premium ” means—

(a)

in relation to the grant of a lease, a premium moving from the landlord to the tenant,

(b)

in relation to the assignation of a lease, a premium moving from the assignor to the assignee,

(c)

in relation to the renunciation of a lease, a premium moving from the tenant to the landlord.

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