Section 562B | Breach of further condition relating to shares ^F1

(1)Subsection (2) applies if the condition in section 528A (further condition relating to shares) is not met in relation to an accounting period.^F1

(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.^F1

(3)But subsection (2) does not apply if the condition is not met as a result of—^F1

(a)the principal company of a group UK REIT becoming a member of another group UK REIT, or^F1

(b)a company UK REIT becoming a member of a group UK REIT,^F1

and, accordingly, the breach is to be ignored.

(4)This section is subject to section 562C.^F1