Regulation 4 Provisions supplementing Schedule 29A
Paragraph 32 of Schedule 29A (and the remainder of the taxable property provisions excepting paragraph 34 of that Schedule) shall apply to—
(a)
a licence to use or occupy residential property (for a consideration which is wholly or partly rent), and
(b)
the right to use, or participate in arrangements relating to the use of, taxable property or a description of taxable property to which the property in question belongs (for a consideration which is wholly or partly rent),
as if each payment of rent represented the grant, to the pension scheme or other person who acquired the interest in taxable property, of a lease of the taxable property for the period for which the rent is paid, and in consideration of the rent so paid.