Part 12Real Estate Investment Trusts
Chapter 2Requirements for being a UK REIT
Becoming a UK REIT
523Notice for a group of companies to become a UK REIT
(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).