Section 554 — Corporation Tax Act 2010: Regulations: distributions to holders of excessive rights

Regulations: distributions to holders of excessive rights 554 1 The Treasury may by regulations make provision of the kind mentioned in subsection (2) for cases where—

a the principal company of a group UK REIT, or b a company UK REIT, makes a distribution to or in respect of a holder of excessive rights (as defined by section 553).

2 The provision referred to in subsection (1) is—

a provision that a charge does not arise, or is reduced, if the company takes or does not take action of a specified kind;

b a requirement for the company to provide the Commissioners for Her Majesty's Revenue and Customs with specified information relating to the distribution and the persons to or in respect of whom it is made.