705D Conditions regarding an accounting period

Having met the conditions in section 705B (but subject to subsections (2) and (3) of section 705B), and given a notice under section 705E, a REIT or group REIT must continue to meet those conditions in each subsequent accounting period.

(a) A company which has given a notice under section 705E must continue to meet all of the conditions in section 705B(1) in each accounting period until it ceases to be a REIT in accordance with section 705O.

(b) A principal company which has given a notice under section 705E in respect of a group must continue to meet all of the conditions in section 705B(1)(a) in each accounting period until it ceases to be a group REIT in accordance with section 705O.

(c) Where a principal company has given a notice under section 705E, the group must continue to meet all of the conditions in section 705B(1)(b) until it ceases to be a group REIT in accordance with section 705O.

Relevant Date: Finance Act 2021