Subsection (2) applies if on a day in a chargeable period—
a financial institution that carries on a business involving the lending of money is entitled to a single-dwelling interest that has been acquired by it as mentioned in section 143(1)(b), and
a non-qualifying individual is permitted to occupy the dwelling.
No subsequent day is relievable in the case of the single-dwelling interest by virtue of section 143(1) if—
the day falls within that chargeable period, or any of the subsequent 3 chargeable periods, and
there is continuity of ownership on that day.
There is continuity of ownership on a day on which—
the financial institution is entitled to the single-dwelling interest, or
if the financial institution carried on the business mentioned in subsection (1)(a) in partnership, another member of the partnership is entitled to the interest.
Subsection (5) applies if—
on a day in a chargeable period ("the day of non-qualifying occupation") a person who is a non-qualifying individual in relation to a single-dwelling interest is occupying the dwelling in question, and
on an earlier day in that, or the preceding, chargeable period ("the earlier day") the conditions in section 143(1)(a) to (c) are met in relation to the same single-dwelling interest.
The earlier day is not relievable by virtue of section 143(1) in the case of the single-dwelling interest if—
a person who is entitled to the interest on the earlier day is also entitled to it on the day of non-qualifying occupation, or
if the business mentioned in section 143(1) is carried on in partnership, a person who has at any time carried that business on in partnership is entitled to the interest on the day of non-qualifying ownership.
Subsection (5) does not apply in relation to the earlier day if a day that is relievable by virtue of section 133(1)(a) falls between the earlier day and the day of non-qualifying occupation.
For the purposes of this section and section 143—
"non-qualifying individual" has the meaning given by section 136(1);
occupation of any part of a dwelling is regarded as occupation of the dwelling.