We thought you might be interested to read the attached short alert memo which was prepared by Cleary Gottlieb Steen & Hamilton LLP, on the UK Government’s draft legislation permitting the introduction of REITs in the UK. The draft legislation forms the basis for a consultation process with interested parties, and comments are invited by HM Revenue & Customs by 27 January 2006. The intention is that the new regime should become operative from 1 January 2007.
For further information on any of the issues dealt with in the memo please contact your usual Cleary Gottlieb contact or one of the lawyers named in the memo.
CLEARY GOTTLIEB STEEN & HAMILTON LLP