SCHEDULES

SCHEDULE 4Real estate investment trusts

8Being a UK REIT: conditions for company - close companies

1

Section 562 (breach of conditions C and D in section 528) is amended as follows.

2

In the heading for “conditions C and D” substitute “condition C”.

3

In subsection (1) for the words from “or D” to “conditions)” substitute “in section 528”.

4

In subsection (2)—

a

for “both conditions C and D are” substitute “condition C is”, and

b

for “breaches are” substitute “breach is”.

5

Omit subsections (3) and (4).

6

In subsection (5)—

a

in paragraph (a) for “either condition C or D” substitute “condition C”, and

b

in paragraph (b) omit “or (3)”.