Section 600 | Power to make regulations about cases involving related persons

(1)If they consider it expedient in the public interest the Treasury may make regulations about the application of this Part to activities or situations which involve, or arise in connection with, a relationship between a REIT company and another person.

(2)In subsection (1) “REIT company” means—

(a)a company UK REIT, or

(b)a company which is a member of a group UK REIT.

(3)The regulations may, in particular—

(a)treat a specified person, or a person in specified circumstances, as forming part of a group UK REIT for specified purposes;

(b)provide for a specified provision which applies in respect of a members of a group UK REIT also to apply, with or without modifications, in respect of a specified person or a person in specified circumstances.

(4)Regulations under this section may make provision in relation to accounting periods ending on or after the date on which the regulations are made.

(5)No regulations may be made under this section unless a draft of the statutory instrument containing them has been laid before and approved by a resolution of the House of Commons.