Version Superseded: 17/07/2012
Point in time view as at 19/07/2011.
Finance Act 2011, Paragraph 73 is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
73(1)“Excluded entity” means an entity which is—U.K.
(a)an insurance company or an insurance special purpose vehicle,
(b)an entity which is a member of a group and does not carry on any relevant regulated activities otherwise than on behalf of an insurance company or insurance special purpose vehicle which is a member of the group,
(c)an entity which does not carry on any relevant regulated activities otherwise than as the manager of a pension scheme,
(d)an investment trust (within the meaning given by section 1158 of CTA 2010),
(e)an entity which does not carry on any relevant regulated activities other than asset management activities,
(f)an exempt BIPRU commodities firm,
(g)an entity which does not carry on any relevant regulated activities otherwise than for the purpose of trading in commodities or commodity derivatives,
(h)an entity which does not carry on any relevant regulated activities otherwise than for the purpose of dealing in contracts for differences—
(i)as principal with persons all or all but an insignificant proportion of whom are retail clients, or
(ii)with another person to enable the entity or other person to deal in contracts for differences as principal with persons all or all but an insignificant proportion of whom are retail clients,
(i)a society incorporated under the Friendly Societies Act 1992,
(j)a society registered as a credit union under the Industrial and Provident Societies Act 1965 or the Credit Unions (Northern Ireland) Order 1985 (S.I. 1985/1205 (N.I. 12)), or
(k)a building society.
(2)In sub-paragraph (1)(a) and (b) “insurance company” and “insurance special purpose vehicle” have the meaning given by section 431(2) of ICTA.
(3)In sub-paragraph (1)(b) “group” means a group for the purposes of—
(a)the provisions mentioned in paragraph 4(3), or
(b)the provisions of US GAAP mentioned in paragraph 4(6)(a)(iii).
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.
