Taxation (International and Other Provisions) Act 2010 Schedule 11 Part 6

Offshore funds: index of defined expressions used in Part 8

Schedule 11 Part 6 provides an index of the key defined terms used throughout Part 8 of the Act, which deals with offshore funds.

• The term "participant" is defined in section 362(1) and refers to a person who holds an interest in an offshore fund.
• The term "participation" is defined in section 362(2) and refers to the holding of such an interest in an offshore fund.
• "Umbrella arrangements" are defined in section 363(1) and describe structures where a single offshore fund is divided into separate sub-funds or compartments.
• "Part of umbrella arrangements" is defined in section 363(2) and refers to an individual sub-fund or compartment within such an umbrella structure.