When the principal company of a group gives notice for its group
to join the regime, that covers all the companies that are 75%/
effective 51% subsidiaries at the date the notice is effective. If
a company subsequently becomes a 75%/ effective 51% subsidiary, the
regime applies to the new group member in the same way as it does
to companies that were group members at the date the group joined
When a new company joins a Group REIT, the consequences for the new company are the same as for a company that was a member of the group on the day the group joined the regime. There is a deemed sale and reacquisition of the assets of the property rental business of the new group member on the day it joins the group and an Entry Charge is payable by reference to the market value of the assets involved in its property rental business (subject to any portion disregarded on account of minority share-holdings – see GREIT11200).