# Finance Act 2011, Paragraph 71

Extent: E+W+S+N.I.

(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—
(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),
(b) acting as a discretionary investment manager for clients none of which is a linked entity, and
(c) acting as an authorised corporate director.
(2) In sub-paragraph (1), “ linked entity ”, in relation to an entity (“E”), means—
(a) a member of the same group as E,
(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
(c) a partnership the members of which include an entity—
(i) which is a member of the same group as E, and
(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).
(3) In sub-paragraph (2) “ group ” means a group for the purposes of—
(a) the provisions mentioned in paragraph 4(3), ...
(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Source: https://www.legislation.gov.uk/ukpga/2011/11/schedule/19/paragraph/71 (the official version)
Page: https://openlegislation.uk/finance-act-2011/schedule-19/paragraph-71
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.