# Corporation Tax Act 2010, Section 562C: Breach of further condition relating to shares in accounting periods 1, 2 and 3


(1) Subsection (2) applies if the condition in section 528A, as relaxed by section 528B, is not met in relation to accounting period 1, accounting period 2 and accounting period 3.
(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 accounting period 2.
(3) But subsection (2) does not apply if the condition, as relaxed, 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) In this section “accounting period 2” and “accounting period 3” have the same meaning as in section 528B.

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Source: https://www.legislation.gov.uk/ukpga/2010/4/section/562C (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2010/section-562C
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.