Section 562 — Corporation Tax Act 2010: Breach of condition C in section 528 (conditions for company)

Breach of condition C in section 528 (conditions for company) 562 1 This section makes provision about cases relating to breaches of condition C in section 528 in relation to—

a the principal company of a group UK REIT, or b a company UK REIT.

2 If condition C is 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 breach is to be ignored. 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

5 If—

a condition C is not met in relation to an accounting period, and b the case is not one within subsection (2) ..., 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.