Section 562B — Corporation Tax Act 2010: Breach of further condition relating to shares

Breach of further condition relating to shares 562B 1 Subsection (2) applies if the condition in section 528A (further condition relating to shares) is not met in relation to an accounting period.

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.

3 But subsection (2) does not apply if the condition is not met as a result of—

a the principal company of a group UK REIT becoming a member of another group UK REIT, or b a company UK REIT becoming a member of a group UK REIT, and, accordingly, the breach is to be ignored.

4 This section is subject to section 562C.