"close company" has the meaning assigned to it by section 430;
"discretionary trust" means any disposition whereby, or by virtue or in consequence of which, property is held on trust to apply, or with a power to apply, the income or capital or part of the income or capital of the property for the benefit of any person or persons or of any one or more of a number or of a class of persons whether at the discretion of trustees or any other person and notwithstanding that there may be a power to accumulate all or any part of the income and for the purposes of this definition "disposition" includes any disposition whether by deed or otherwise and any covenant, agreement or arrangement whether effected with or without writing;
"domicile levy" has the meaning assigned to it by section 531AB;
"foundation" means any legal entity, wherever established, to which an individual disposes of, or transfers, property, irrespective of - (a) how that entity is described in
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