# Land and Buildings Transaction Tax (Scotland) Act 2013, Paragraph 2


Paragraphs 3 to 6 apply where arrangements are entered into between a person and a financial institution under which the institution—
(a) purchases a major interest in land (“the first transaction”),
(b) grants to the person out of that interest a lease (if the interest acquired is the interest of the owner) or a sub-lease (if the interest acquired is the tenant's right over or interest in a property subject to a lease) (“the second transaction”), and
(c) enters into an agreement under which the person has a right to require the institution to transfer the major interest purchased by the institution under the first transaction.

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Source: https://www.legislation.gov.uk/asp/2013/11/schedule/7/paragraph/2 (the official version)
Page: https://openlegislation.uk/land-and-buildings-transaction-tax-scotland-act-2013/schedule-7/paragraph-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.