[Part 3 Interpretation]
Finance Act 2003 (2003 c 14) | Legislation

[Part 3 Interpretation]

[“First-time buyerâ€

6

(1)     In this Schedule “first-time buyer†means an individual who—

(a)     has not previously been a purchaser in relation to a land transaction the main subject-matter of which was a major interest in a dwelling,

(b)     has not previously acquired[—

(i)]     an equivalent interest in a dwelling situated in a country or territory outside England, Wales and Northern Ireland, [or

(ii)     an interest of a kind mentioned in section 117(2) in a dwelling situated in Wales,]

(c)     has not previously been, or been one of the persons who was, “the person†for the purposes of section 71A or 73 in a case where the main subject-matter of the first transaction within the meaning of the section concerned was a major interest in a dwelling, and

(d)     would not have been such a person for those purposes in such a case if the provisions mentioned in paragraph (c) had been in force, and had had

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