SCHEDULE 6LEASES
PART 4AGREEMENTS FOR LEASE, ASSIGNMENTS AND VARIATIONS
Assignment of agreement for lease
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1
This paragraph applies where a person (““P””) assigns P's interest as tenant under an agreement for lease.
2
Where this paragraph applies Schedule 2 (transactions entered into before completion of contract) does not apply.
3
If the assignment occurs without the agreement having been substantially performed, section 10 (contract and transfer) has effect as if—
a
the agreement were with the assignee (““A””) and not P, and
b
the consideration given by A for entering into the agreement included any consideration given by A for the assignment.
4
If the assignment occurs after the agreement has been substantially performed—
a
the assignment is a separate land transaction, and
b
the effective date of that transaction is the date of the assignment.
5
Where there are successive assignments, this paragraph has effect in relation to each one of them.