(1) a sum becomes payable by the tenant (otherwise than by way of rent1) as consideration for the variation or waiver2 of a term of a lease3;
(2) the sum is due to the landlord or person who is connected with him; and
(3) the period for which the variation or waiver has effect is 50 years or less,
then the person to whom the sum is due is treated as entering into a transaction for the purposes of his UK property business (or, if the land is outside the United Kingdom, his overseas property business)
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