Section 528B — Corporation Tax Act 2010: Relaxation of section 528A condition for accounting periods 1 to 3

Relaxation of section 528A condition for accounting periods 1 to 3 528B 1 This section relaxes the requirements of section 528A in relation to accounting period 1, accounting period 2 and accounting period 3.

2 In the case of a group UK REIT, the condition in section 528A is met in relation to accounting period 1, accounting period 2 and accounting period 3 if—

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

3 In the case of a company UK REIT, the condition in section 528A is met in relation to accounting period 1, accounting period 2 and accounting period 3 if—

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

4 In this section— “ accounting period 2 ” means the accounting period following accounting period 1, “ accounting period 3 ” means the accounting period following accounting period 2, and “ the relevant period ” means the period consisting of accounting period 1, accounting period 2 and accounting period 3.