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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

income generating property

    175a single property or multiple properties within a single development which:

      1. (1) is actually used, or is available for use, for residential or commercial purposes;
      1. 175 (2) is located in the United Kingdom;
      1. 175(3) is available for occupancy or occupied by one or more persons who have no relationship with the directors of the relevant property holding vehicle and who pay rent at a commercial rate or a rate reflecting regulated market practice for social and affordable housing; and
      1. 175(4) has been valued by an independent valuer:
        1. 175(a) who is a member of the Royal Institute for Chartered Surveyors; and/or
        1. 175(b) in accordance with the RICS Valuation Standards (The Red Book).