F11 Paragraph 13 requires that where a transaction falls within the scope of both this FRS and another FRS or a SSAP, the standard that contains the more specific provision(s) should be applied. As explained in paragraph 45, for transactions that contain a stand-alone lease, SSAP 21 will be the relevant standard. Other transactions, in particular those containing a lease as an element of a larger arrangement, will fall within the FRS.
F12 A PFI contract will contain a stand-alone lease (so that SSAP 21, interpreted in the light of the FRS, should be applied) where the only elements remaining after excluding any separable service elements are payments for the property.
F13 Other PFI contracts, ie those where there are some non-separable service elements, will fall directly within the FRS.