Schedule 34 — Real Estate Investment Trusts

Part of Care Homes (Domestic Pets) – in the House of Commons at 6:00 pm on 8 July 2009.

Alert me about debates like this

Photo of Michael Lord Michael Lord Deputy Speaker (Second Deputy Chairman of Ways and Means) 6:00, 8 July 2009

With this it will be convenient to discuss the following: Amendment 18, in page 289, line 23, at end insert—

'Conditions for tax-exempt business

3A (1) Section 107 (conditions for tax-exempt business) is amended as follows—

(2) In subsection (8)(b) after "before", insert "the third anniversary of ".

(3) The amendment made by sub-paragraph (2) has effect for distributions in respect of accounting periods beginning on or after 1 January 2008 and ending on or before 31 March 2010.

3B (1) Schedule 17 is amended as follows.

(2) In paragraph 6 (4) after "before", insert "the third anniversary of".

(3) The amendment made by sub-paragraph (2) has effect for distributions in respect of accounting periods beginning on or after 1 January 2008 and ending on or before 31 March 2010.'.

Government amendment 47.

Amendment 15, in page 290, line 24, at end insert—

'Profit: financing-cost ratio

5A (3) Section 115 (4) is amended as follows.

(4) In subsection 115 (4) (a) after "costs giving rise to", insert "credits or".

(5) In subsection 115 (4) at end insert "but exclude—

(f) financing costs falling within (a) to (e) above which are exceptional due to their size or incidence.".'.

Amendment 16, in page 290, line 29, at end insert—

'Termination by notice: Commissioners

6A (1) Section 129 is amended as follows.

(2) In section 129 (2) (c) at end insert "but a breach of the condition in section 107 (8) where the company is in financial difficulties shall not be treated as serious".

(3) The amendment made by sub-paragraph (2) is to be treated as always having had effect.'.