property investment company
- (1) 30(in CIS) a body corporate, a substantial activity of which relates to permitted immovables (whether by way of investing, dealing in, developing, redeveloping or refurbishing them and whether directly or indirectly).
- (2) (in LR ) an investment company or an investment trust which invests or intends to invest 20% or more of its gross assets directly in property and satisfies the requirements of LR 15.5 in addition to any other relevant requirements of LR 15.30