Taxation (International and Other Provisions) Act 2010 section 362

Meaning of "participant" and "participation"

Section 362 defines the terms "participant" and "participation" as used throughout this Part of the Act in relation to tax arrangements or funds.

• A "participant" is any person who takes part in arrangements or in the arrangements that make up a fund.
• Taking part includes becoming the owner of the property (or any part of it) that is the subject of the arrangements.
• Participation is not limited to ownership — it extends to any form of involvement in the arrangements.
• All references to "participation" throughout this Part of the Act follow the same broad definition.