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16After section 528 insert—
(1)In the case of a group UK REIT, the condition in this section is met in relation to an accounting period if—
(a)throughout the accounting period, the shares forming the principal company’s ordinary share capital meet the requirement of section 1137(2)(b) (definition of “listed” in relation to shares), or
(b)during the accounting period, shares forming part of the principal company’s ordinary share capital are traded on a recognised stock exchange.
(2)In the case of a company UK REIT, the condition in this section is met in relation to an accounting period if—
(a)throughout the accounting period, the shares forming the company’s ordinary share capital meet the requirement of section 1137(2)(b) (definition of “listed” in relation to shares), or
(b)during the accounting period, shares forming part of the company’s ordinary share capital are traded on a recognised stock exchange.
(3)This section is subject to section 528B.
(1)This section relaxes the requirements of section 528A in relation to accounting period 1, accounting period 2 and accounting period 3.
(2)In the case of a group UK REIT, the condition in section 528A is met in relation to accounting period 1, accounting period 2 and accounting period 3 if—
(a)at the end of the relevant period, the shares forming the principal company’s ordinary share capital meet the requirement of section 1137(2)(b) (definition of “listed” in relation to shares), or
(b)during the relevant period, shares forming part of the principal company’s ordinary share capital are traded on a recognised stock exchange.
(3)In the case of a company UK REIT, the condition in section 528A is met in relation to accounting period 1, accounting period 2 and accounting period 3 if—
(a)at the end of the relevant period, the shares forming the company’s ordinary share capital meet the requirement of section 1137(2)(b) (definition of “listed” in relation to shares), or
(b)during the relevant period, shares forming part of the company’s ordinary share capital are traded on a recognised stock exchange.
(4)In this section—
“accounting period 2” means the accounting period following accounting period 1,
“accounting period 3” means the accounting period following accounting period 2, and
“the relevant period” means the period consisting of accounting period 1, accounting period 2 and accounting period 3.”