SCHEDULE 11RELIEF FOR ALTERNATIVE FINANCE INVESTMENT BONDS
PART 3CONDITIONS FOR OPERATION OF RELIEFS ETC.
Condition 3
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1
Condition 3 is that, for the purpose of generating income or gains for the alternative finance investment bond—
a
B and A enter into a leaseback agreement, or
b
such other condition or conditions as may be prescribed is or are met.
2
For the purposes of condition 3, B and A enter into a leaseback agreement if B grants to A, out of the interest transferred to B—
a
a lease (if the interest transferred is freehold), or
b
a sub-lease (if the interest transferred is leasehold).