Article 207 Granting interestsI1
United Kingdom
(1)
If a person grants an interest in his recoverable property, the question whether the interest is also recoverable is to be determined in the same manner as it is on any other disposal of recoverable property.
(2)
Accordingly, on his granting an interest in the property (“the property in question”)—
(a)
where the property in question is property which satisfies the tests in article 202(1) and (2), the interest is also to be treated as satisfying those tests,
(b)
where the property in question represents in his hands property which satisfies the tests in article 202(1) and (2), the interest is also to be treated as representing in his hands property which satisfies those tests.