574Notice under section 572: serious breachU.K.
(1)An officer of Revenue and Customs may give a notice under section 572(1) if the officer thinks that—
(a)a breach of a condition in section 529, 530 or 531, or
(b)an attempt by a member of the group or (as the case may be) by the company to obtain a tax advantage,
is so serious that the group or company should cease to be a UK REIT.
(2)Subsection (3) applies if—
(a)the case is one relating to a breach of condition B in section 531 (balance of business: assets) in relation to accounting period 1, and
(b)that condition is not met at the beginning of the next accounting period.
(3)In that case, section 572(4) has effect as if for paragraph (a) there were substituted—
“(a)the group or company (as the case may be) is to be taken to have ceased to be a UK REIT on the first day of accounting period 1, and”