{
  "url": "https://openlegislation.uk/real-estate-investment-trusts-joint-ventures-regulations-2006/regulation-10",
  "json_url": "https://openlegislation.uk/real-estate-investment-trusts-joint-ventures-regulations-2006/regulation-10.json",
  "legislation": "uksi/2006/2866",
  "legislation_title": "The Real Estate Investment Trusts (Joint Ventures) Regulations 2006",
  "legislation_url": "https://openlegislation.uk/real-estate-investment-trusts-joint-ventures-regulations-2006",
  "path": "regulation/10",
  "kind": "regulation",
  "number": "10",
  "heading": "Conditions",
  "text": "(1) The conditions are as follows.\nCondition 1\nThe venturing group is carrying on a joint venture with another company or person.\nCondition 2\nThe joint venture takes the form of a company.\nCondition 3\nThe joint venture company is carrying on a property rental business as defined in section 104.\nCondition 4\nOne or more members of the venturing group are beneficially entitled in the aggregate to 40% or more of the profits available for distribution to equity holders in the joint venture company.\nCondition 5\nOne or more members of the venturing group are beneficially entitled to 40% or more of the assets of the joint venture company available to equity holders in the event of a winding up.\nCondition 6\nThe property rental business carried on by the joint venture company does not involve property that would fall, in accordance with generally accepted accounting practice, to be described as owner-occupied.\nCondition 7\nThe joint venture company would satisfy Conditions 1 and 2 in section 108 (conditions for balance of business) if references in that section to the “tax-exempt business” and the “company” were read as references to the property rental business of the joint venture company.\n(2) For the purposes of Conditions 6 and 7 owner-occupied property includes property held by the joint venture company and occupied by a member of the venturing group.\n(3) For the purposes of these Regulations the property rental businesses of the venturing group and the joint venture company shall be treated as a single business.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2006/2866/regulation/10",
    "retrieved_at": "2026-10-29T04:17:13.434804+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}