115 Contracts for the sale of an estate or interest in land chargeable as conveyances

115  Contracts for the sale of an estate or interest in land chargeable as conveyances

(1)     This section applies to a contract or agreement for the sale of an estate or interest in land in the United Kingdom where—

(a)     the amount or value of the consideration exceeds £10 million, or

(b)     the instrument forms part of a larger transaction or series of transactions in respect of which the amount or value, or aggregate amount or value, of the consideration exceeds £10 million.

(2)     If, in the case of such a contract or agreement that is not otherwise chargeable to stamp duty, a conveyance or transfer made in conformity with the contract or agreement is not presented

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