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26. Regulation 69Z24 (distribution payments to be made without deduction of tax) is amended as follows—
(a)in paragraph (1), before the words “On making a distribution”, insert “Subject to paragraphs (3A) and (3B),”; and
(b)after paragraph (3), insert—
“(3A) But neither condition A nor condition B is met, in relation to a unit trust scheme, where—
(a)the distribution is made to the trustee of the scheme;
(b)the trustee is chargeable to corporation tax or income tax on the distribution in the United Kingdom; and
(c)the trustee has made a request in writing to the Property AIF that the Property AIF should deduct tax from the distribution.
(3B) The Property AIF must not specify that the trustee of any unit trust scheme seeking to acquire shares in the Property AIF must have tax deducted from any distribution.”.
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