Commentary on Sections Schedule 11 - Relief for alternative finance investment bonds Part 4 - Relief for certain transactions
315.The first and second transactions are relieved from LTT in accordance with the conditions set out in Part 4, namely:
	the first transaction is relieved if the leaseback from B to A is granted before the end of 30 days from the effective date of the first transaction (i.e. the first three conditions in Part 3); and
	for the second transaction, all of the conditions in Part 3 have been met and the provisions of this Act and TCMA have been complied with in relation to the first transaction.
316.Paragraph 14 sets out the circumstances under which relief for the first transaction is withdrawn.
317.Under paragraph 17, relief is not available, or can be withdrawn, in circumstances where the bond-holders acquire control or management of the bond asset (in the same way as applies under paragraph 4, see above).