# Corporation Tax Act 2010, Section 1150: Meaning of “investment manager” and “investment transaction”


(1) The following definitions apply for the purposes of this Chapter.
(2) An “investment manager” means a person who provides investment management services (which may include or comprise the provision of investment advice).
(3) An “investment transaction” means any transaction other than a transaction with an excluded subject matter.
(4) The following are excluded subject matters—
(a) land in the United Kingdom, and
(b) any commodity or other physical asset.
(5) But a transaction is to be treated as not having an excluded subject matter if—
(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
(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.
(6) For the purposes of subsection (5) a “qualifying index” means an index relating to an excluded subject matter that—
(a) is publicly available, and
(b) is an index of a substantial number of assets.

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Source: https://www.legislation.gov.uk/ukpga/2010/4/section/1150 (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2010/section-1150
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.