Section 54 | Alternative finance: land in England, Scotland or Northern Ireland

(1)In section 157 of FA 2013 (land in England or Northern Ireland sold to financial institution and leased to person under alternative finance arrangements)—

(a)in subsection (2), for “If the lessee is a company, this Part” substitute “This Part”;

(b)in subsection (4), after “company” (in each place it appears) insert “or individual”;

(c)in subsection (9), after “subsections” insert “(2), (3),”.

(2)In section 157A of FA 2013 (land in Scotland sold to financial institution and leased to person under alternative finance arrangements)—

(a)in subsection (4), for “If the lessee is a company, this Part” substitute “This Part”;

(b)in subsection (6), after “company” (in each place it appears) insert “or individual”;

(c)in subsection (11), after “subsections” insert “(4), (5),”.

(3)The amendments made by this section are treated as having come into force on 30 October 2024.