The Finance Bill 2013 introduced a tax regime for Real Estate Investment Trusts (REITs).  One of the conditions to qualify for the REIT tax regime is that the REIT must have its shares listed on the main market of a recognised stock exchange in an EU Member State.

In light of the above development, the Irish Stock Exchange has created a listing regime for REITs.  In particular, we have developed a new Chapter 16 in our Listing Rules specifically for REITs – click here to view the draft Rules.

The new chapter will apply to a property investment company that qualifies as a REIT under the Finance Act 2013.  We have aligned our new requirements with those of the FCA Listing Rules in the UK so as to facilitate REITs that may seek a dual listing in Ireland and the UK.

At this time, we are running a short consultation on the proposed listing rules in Chapter 16.  If you have any comments or feedback on the proposed new listing rules for REITs, please submit these directly by email to Daryl Byrne, Head of Regulation (daryl.byrne@ise.ie) by close of business on Friday, 26 April 2013.