(1)This section makes provision about cases relating to breaches of condition C or D in section 528 (or of both those conditions) in relation to—
(a)the principal company of a group UK REIT, or
(b)a company UK REIT.
(2)If both conditions C and D are not met—
(a)as a result of the principal company of a group UK REIT becoming a member of another group UK REIT, or
(b)as a result of a company UK REIT becoming a member of a group UK REIT,
the breaches are to be ignored.
(3)If—
(a)condition D is not met as a result of anything done (or not done) by a person other than the company in question, and
(b)the company remedies the breach not later than the end of the accounting period after that in which the breach began,
the breach is to be ignored.
(4)But if, in a case within subsection (3), the breach of condition D is not remedied by the time mentioned in that subsection, the group or company (as the case may be) is to be treated as having ceased to be a UK REIT at the end of the accounting period in which the breach began.
(5)If—
(a)either condition C or D is not met in relation to an accounting period, and
(b)the case is not one within subsection (2) or (3),
the group or company (as the case may be) is to be treated as having ceased to be a UK REIT at the end of the previous accounting period.