Introduction Details of the Schedule
2.Paragraphs 1 and 2 amend Part 4 of Finance Act 2003 (FA 2003) by amending the transfer of rights rules applying to section 45 FA 2003. The new section 45 introduces a new Schedule 2A to the FA 2003 which contains the substantive provisions.
3.Paragraph 3 inserts a new Schedule 2A which contains provisions about transactions that are entered into before completion of contract. It replaces the term “transfer of rights” with the term “pre-completion transaction” (see Schedule 2A paragraph 1(2)).