(1) In this section -
"conversion expenditure" means, subject to subsection (2), expenditure incurred on -
(a) the conversion into a house of a building -
(i) the site of which is wholly within a qualifying resort area, and
(ii) which before the conversion had not been in use as a dwelling,
and
(b) the conversion into 2 or more houses of a building -
(i) the site of which is wholly within a qualifying resort area, and
(ii) which before the conversion had not been in use as a dwelling or had been in use as a single dwelling,
and references in this section and in section 359 to "conversion", "conversion into a house" and "expenditure incurred on conversion" shall be construed accordingly;
"qualifying lease", in relation to a house, means, subject to section 359(2), a lease of the house the consideration for the grant of which consists solely of -
(a) a single payment which is or is to be treated as rent for the purposes of Chapter 8 of Part 4, or
(b) periodic payments all of which a