A day in a chargeable period is relievable in relation to a single-dwelling interest if matters stand as follows on that day—
a financial institution carrying on a business that involves the lending of money is entitled to the interest,
the financial institution has acquired the interest in the course of that business and in connection with those lending activities, and
the interest is held with the intention that it will be sold in the course of that business without delay (except so far as delay is justified by commercial considerations or cannot be avoided).
A single-dwelling interest in a dwelling is taken not to be held with the intention mentioned in subsection (1)(c) at any time when a non-qualifying individual is permitted to occupy the dwelling.
In this Part (except where otherwise stated) "financial institution" has the meaning given by section 564B of ITA 2007; but for this purpose section 564B(1) is to be read as if paragraph (d) of that subsection were omitted.