UK Real Estate Investment Trusts (UK-REITs)
As part of the 2005 Pre-Budget Report, the Government announced that it would bring forward legislation for the introduction of Real Estate Investment Trusts in the UK (UK-REITs) to improve the efficiency of both the commercial and residential property investment markets.

The introduction of UK-REIT legislation will provide the basis for liquid and publicly available property investment vehicles available to a wide range of investors, contributing to the Government’s wider objectives for raising productivity in the commercial property sector. As recommended by Kate Barker in her independent review of housing supply, UK-REITs will also encourage increased institutional and professional investment to support the private rented sector.

Following two consultation papers published by the Government in 2004 and 2005, HM Revenue and Customs is now publishing, for consultation, draft legislation which would enable the creation of UK-REITs.

The closing date for this consultation is 27 January 2006.

UK Implementation of the Markets in Financial Instruments Directive (Directive 2004/39/EC)
This consultation deals with the legislative changes the Government will need to make to transpose the Markets in Financial Instruments Directive (MIFID) into UK law. The purpose of the consultation is to explore the different options available to the Government to achieve proportionate implementation consistent with principles of better regulation.

The closing date for this consultation is 31 March 2006.

Freedom of Information one year on: a review
This exercise is designed to gather the views of consultees to feed into a review on the operation of certain aspects of the Freedom of Information (Scotland) Act 2002.

The closing date for this consultation is 31 March 2006.

Benevolent Fundraising Regulations
The consultation paper will set out the Scottish Executive's proposals for the regulation of benevolent fundraising under the Charities and Trustee Investment (Scotland) Act 2005. A set of draft regulations will also be included in the consultation paper. The regulations cover fundraising by, and for, benevolent bodies (whether or not they are registered charities), and aim to provide greater transparency and accountability. They set out details of the contracts required between professional fundraisers/commercial participators and benevolent bodies, as well as the method of transmission and availability of documents to the benevolent body. The regulations will also cover the information to be provided by benevolent fundraisers to potential donors.

The closing date for this consultation is 9 March 2006.

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