[151K Diminishing shared ownership arrangements]
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

[151K  Diminishing shared ownership arrangements]

[(1)     This section applies to arrangements if under them—

(a)     a [person] (“the first owner”) acquires a beneficial interest in an asset,

[(aa)     either—

(i)     the first owner is a financial institution or a regulated home purchase plan provider, or

(ii)     the arrangements are regulated electronic system facilitated arrangements,]

(b)     another person (“the eventual owner”) also acquires a beneficial interest in it,

(c)     the eventual owner is to make payments to the first owner amounting in aggregate to the consideration paid for the acquisition of the first owner's beneficial interest (but subject to any adjustment required for such a reduction as is mentioned in subsection (5)),

(d)     the eventual owner is to acquire the first owner's beneficial interest (whether or not in stages) as a result of those payments,

(e)     the eventual owner is to make other payments to the first owner (whether under a lease forming part

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