(1) Subject to subsections (2) and (3), the notice referred to in section 705E shall contain a statement to the effect that -
(a) each of the following conditions, in relation to a REIT or the principal company of a group REIT, as the case may be, is met throughout the specified accounting period, namely -
(i) it is resident in the State and not resident in another territory,
(ii) it is incorporated under the Companies Acts,
(iii) its shares are listed on the main market of a recognised stock exchange in a Member State, and
(iv) it is not a close company within the meaning of Chapter 1 of Part 13,
and
(b) each of the following conditions, in relation to a REIT or group REIT, as the case may be, is reasonably expected to be met at the end of the specified accounting period, namely -
(i) at least 75 per cent of the aggregate income of the REIT or group REIT derives from carrying on property rental business,
(ii) it conducts property rental business consisting of at least three properties
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