{
  "url": "https://openlegislation.uk/finance-act-2011/schedule-19/paragraph-71",
  "json_url": "https://openlegislation.uk/finance-act-2011/schedule-19/paragraph-71.json",
  "legislation": "ukpga/2011/11",
  "legislation_title": "Finance Act 2011",
  "legislation_url": "https://openlegislation.uk/finance-act-2011",
  "path": "schedule/19/paragraph/71",
  "kind": "paragraph",
  "number": "71",
  "heading": null,
  "text": "(1) “ Asset management activities ” means activities which consist (or, if they were carried on in the United Kingdom, would consist) of any or all of the following—\n(a) acting as the operator of a collective investment scheme (within the meaning of Part 17 of FISMA 2000: see sections 235 and 237 of that Act),\n(b) acting as a discretionary investment manager for clients none of which is a linked entity, and\n(c) acting as an authorised corporate director.\n(2) In sub-paragraph (1), “ linked entity ”, in relation to an entity (“E”), means—\n(a) a member of the same group as E,\n(b) a company in which a company which is a member of the same group as E has a major interest (within the meaning of Part 5 of CTA 2009: see section 473 of that Act), or\n(c) a partnership the members of which include an entity—\n(i) which is a member of the same group as E, and\n(ii) whose share of the profits or losses of a trade carried on by the partnership for an accounting period of the partnership any part of which falls within the chargeable period is at least a 40% share (see Part 17 of CTA 2009 for provisions about shares of partnership profits and losses).\n(3) In sub-paragraph (2) “ group ” means a group for the purposes of—\n(a) the provisions mentioned in paragraph 4(3), ...\n(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 19 para. 71(3)(b) and preceding word omitted (with effect in accordance with Sch. 9 para. 35 of the amending Act) by virtue of Finance Act 2018 (c. 3), Sch. 9 para. 31"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2011/11/schedule/19/paragraph/71",
    "retrieved_at": "2026-10-29T09:09:31.813616+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."
}