Status: You are viewing the version of the handbook as on 2019-02-22.

permitted immovable

    any interest in land or buildings48 which falls within COLL 5.6.18 R (2) and COLL 5.6.18 R (6) (Investment in property) and which, being a leasehold interest or its equivalent, has an unexpired term of at least 20 years, but 48excluding, in relation to an ICVC, immovable property that is necessary for the direct pursuit of its business.5