regulated sale and rent back agreement

76(in accordance with article 63J(3)(a) of the Regulated Activities Order) an arrangement comprised in one or more instruments or agreements, in relation to which the following conditions are met at the time it is entered into:

1. (a) the arrangement is one under which a person (an agreement provider), buys all or part of the qualifying interest in land in the United Kingdom from an individual or trustees (the "agreement seller"); and
2. (b) the agreement seller (if he is an individual) or an individual who is the beneficiary of the trust (if the agreement seller is a trustee), or a related person, is entitled under the arrangement to occupy at least 40% of the land in question as or in connection with a dwelling, and intends to do so;

but excluding any arrangement that is a regulated home reversion plan.