Section 270IH | Meaning of “lease” etc ^F1

(1)In this Part “lease” includes—^F1

(a)an agreement for a lease if the term to be covered by the lease has begun,^F1

(b)any tenancy, and^F1

(c)in the case of land outside the United Kingdom, an interest corresponding to a lease,^F1

but does not include a mortgage (and “lessee”, “lessor” and “leasehold interest” are to be read accordingly).

(2)In the application of this Part to Scotland—^F1

(a)“leasehold interest” (or “leasehold estate”) means the interest of a tenant in property subject to a lease, and^F1

(b)any reference to an interest which is reversionary on a leasehold interest or on a lease is to be read as a reference to the interest of the landlord in the property subject to the leasehold interest or lease.^F1