Corporation Tax Act 2010 (c. 4)

Part 12 U.K. Real Estate Investment Trusts

Chapter 2 U.K. Requirements for being a UK REIT

Becoming a UK REIT U.K.

523 Notice for a group of companies to become a UK REIT U.K.

(1) A group of companies becomes a group UK REIT if the principal company of the group gives a notice under this section.

(2) A notice under this section is a notice specifying a date from which the group is to be a UK REIT.

(3) The principal company of a group may only give a notice under this section if—

(a) it is a UK company, and

(b) section 236 of FISMA 2000 (open-ended investment companies) does not apply to it.

(4) If the principal company of a group gives a notice under this section, the group is a UK REIT from the date specified in the notice.

(5) In this Part “group UK REIT” means a group of companies the principal company of which has given a notice under this section.

(6) This section is subject to section 527(2) (requirements to be a group UK REIT).