SCHEDULES

SCHEDULE 4U.K.Real estate investment trusts

Being a UK REIT: conditions for company - close companiesU.K.

12(1)Section 577 (multiple breaches of conditions in Chapter 2) is amended as follows.U.K.

(2)In subsection (5)(a) for “section 562(2) and (3)” substitute “ section 562A(6) ”.

(3)In subsection (7)—

(a)in paragraph (b) omit “or D” and “or (5) to (7)”, and

(b)in paragraph (c) for “C to F” substitute “ C, E and F ”.

(4)After subsection (7) insert—

(8)In accordance with section 527(6) and (7), a breach of condition D in section 528 during the first 3-year period (as defined in section 527(8)) is also to be ignored for the purposes of this section.