Part 12Real Estate Investment Trusts

Chapter 2Requirements for being a UK REIT

Being a UK REIT in relation to an accounting period

F1528AFurther condition relating to shares

(1)

In the case of a group UK REIT, the condition in this section is met in relation to an accounting period if—

(a)

throughout the accounting period, the shares forming the principal company's ordinary share capital meet the requirement of section 1137(2)(b) (definition of “listed” in relation to shares), or

(b)

during the accounting period, shares forming part of the principal company's ordinary share capital are traded on a recognised stock exchange.

(2)

In the case of a company UK REIT, the condition in this section is met in relation to an accounting period if—

(a)

throughout the accounting period, the shares forming the company's ordinary share capital meet the requirement of section 1137(2)(b) (definition of “listed” in relation to shares), or

(b)

during the accounting period, shares forming part of the company's ordinary share capital are traded on a recognised stock exchange.

(3)

This section is subject to section 528B.