{
  "url": "https://openlegislation.uk/regulation-of-financial-services-land-transactions-act-2005/section-1",
  "json_url": "https://openlegislation.uk/regulation-of-financial-services-land-transactions-act-2005/section-1.json",
  "legislation": "ukpga/2005/24",
  "legislation_title": "Regulation of Financial Services (Land Transactions) Act 2005",
  "legislation_url": "https://openlegislation.uk/regulation-of-financial-services-land-transactions-act-2005",
  "path": "section/1",
  "kind": "section",
  "number": "1",
  "heading": "Financial Services and Markets Act 2000: regulated activities",
  "text": "In Part 2 of Schedule 2 to the Financial Services and Markets Act 2000 (c. 8) (regulated activities_investments), after paragraph 23 there is inserted—\n“Other finance arrangements involving land\n23A (1) Rights under any arrangement for the provision of finance under which the person providing the finance either—\n(a) acquires a major interest in land from the person to whom the finance is provided, or\n(b) disposes of a major interest in land to that person,\nas part of the arrangement.\n(2) References in sub-paragraph (1) to a “major interest” in land are to—\n(a) in relation to land in England or Wales—\n(i) an estate in fee simple absolute, or\n(ii) a term of years absolute,\nwhether subsisting at law or in equity;\n(b) in relation to land in Scotland—\n(i) the interest of an owner of land, or\n(ii) the tenant's right over or interest in a property subject to a lease;\n(c) in relation to land in Northern Ireland—\n(i) any freehold estate, or\n(ii) any leasehold estate,\nwhether subsisting at law or in equity.\n(3) It is immaterial for the purposes of sub-paragraph (1) whether either party acquires or (as the case may be) disposes of the interest in land—\n(a) directly, or\n(b) indirectly.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2005/24/section/1",
    "retrieved_at": "2026-10-29T09:15:31.740576+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."
}