{
  "url": "https://openlegislation.uk/corporation-tax-act-2010/section-1150",
  "json_url": "https://openlegislation.uk/corporation-tax-act-2010/section-1150.json",
  "legislation": "ukpga/2010/4",
  "legislation_title": "Corporation Tax Act 2010",
  "legislation_url": "https://openlegislation.uk/corporation-tax-act-2010",
  "path": "section/1150",
  "kind": "section",
  "number": "1150",
  "heading": "Meaning of “investment manager” and “investment transaction”",
  "text": "(1) The following definitions apply for the purposes of this Chapter.\n(2) An “investment manager” means a person who provides investment management services (which may include or comprise the provision of investment advice).\n(3) An “investment transaction” means any transaction other than a transaction with an excluded subject matter.\n(4) The following are excluded subject matters—\n(a) land in the United Kingdom, and\n(b) any commodity or other physical asset.\n(5) But a transaction is to be treated as not having an excluded subject matter if—\n(a) it is a derivative contract whose subject matter is a commodity but which does not result in the physical delivery of the commodity, or\n(b) it is a derivative contract whose subject matter is an excluded subject matter only because it operates by reference to a qualifying index, provided that index is not maintained by a person who is connected to any of the parties to the transaction.\n(6) For the purposes of subsection (5) a “qualifying index” means an index relating to an excluded subject matter that—\n(a) is publicly available, and\n(b) is an index of a substantial number of assets.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "S. 1150 substituted (for chargeable periods beginning on or after 1.1.2026) by Finance Act 2026 (c. 11), Sch. 7 paras. 17(1), 30"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2010/4/section/1150",
    "retrieved_at": "2026-10-29T09:10:29.433154+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}