This section provides definitions of the most important terms that are used in the legislation.
	Subsection 1: This explains what is meant by "an overseas entity": this term means a "legal entity" (see below) that is not governed by the law of the UK.
	Subsection 2: defines what is meant by "legal entity" within Part 1. This includes a body corporate (e.g. a company) or a partnership or other type of entity. What is key is that whatever the type of corporate vehicle, it must have legal personality under the law by which it is governed.
Part 1: Registration of Overseas Entities Introduction Section 2: Definition of "overseas entity" etc