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REITs
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36. Part 25A of the Principal Act is amended—
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(a) in section 705A, in the definition of “holding company”, by substituting “definition of ‘group’ ” for “immediately preceding definition”,
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(b) in section 705K(1)(a) by substituting “section 705B(1)(b)(vi), or” for “section 705B(1)(b)(iv),”,
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(c) in section 705L—
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(i) in subsection (3) by deleting “, as the case may be,” where it first occurs, and
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(ii) in subsection (5) by deleting “, as the case may be,” where it first occurs,
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(d) in section 705N by substituting “section 705B(1)(b)(vi)” for “section 705B(1)(b)(iv)”, and
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(e) in section 705P—
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(i) by substituting the following for subsection (1)—
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“(1) Where a notice is given under subsection (1) or (4) of section 705O, a company or group that has ceased to be a REIT or group REIT is to be treated for corporation tax purposes as having ceased, at the date specified in the notice, to be a REIT or group REIT, as the case may be.”,
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and
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(ii) in subsection (2)—
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(I) by substituting “subsection (1) or (4) of section 705O” for “sections 705O(1) or (4)”, and
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(II) by deleting “, as the case may be,” where it first occurs.
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