# The Stamp Duty Land Tax (Avoidance Schemes) (Specified Proposals or Arrangements) Regulations 2012, Regulation 4: Application


(1) Condition A is that a chargeable interest is acquired under a contract, the substantial performance or completion of which falls to be disregarded by virtue of section 45(3) of the Finance Act 2003.
(2) Condition B is that the secondary contract referred to in section 45(3) of the Finance Act 2003 arises from a transaction with one or more of the following features—
(i) a distribution in specie;
(ii) an acquisition by a partnership;
(iii) an acquisition by a settlement;
(iv) an element of gift or transfer at an undervalue;
(v) the grant of an option;
(vi) an assignment or novation.
(3) In regulation 4(2) above, a distribution in specie means a distribution of an asset in physical form without selling it and distributing the proceeds of sale.

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Source: https://www.legislation.gov.uk/uksi/2012/2396/regulation/4 (the official version)
Page: https://openlegislation.uk/stamp-duty-land-tax-avoidance-schemes-specified-proposals-or-arrangements-regulations-2012/regulation-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.