Regulation 5 Persons to be treated as member of REIT group in certain situations

(1)

Where a REIT company enters into prescribed arrangements with a person (“the person in question”), subject to paragraph (3), the entities listed in paragraph (2) shall be treated as members of the same REIT group for the purposes of the application of Part 4, from the beginning of the accounting period in which the arrangements are made.

(2)

The entities are—

(a)

the REIT company,

(b)

the person in question, and

(c)

any person in which either the person in question, or the REIT company, have a direct or indirect interest.

(3)

But a person within paragraph (2)(c) shall not be treated as a member of the REIT group where it can be shown that the person falls outside the scope of the prescribed arrangements.