- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
4(1)The bank levy is charged if, as at the end of a period of account (“the chargeable period”) of an entity (“the parent entity”)—
(a)the parent entity is a parent and is not a subsidiary of any other entity, and
(b)the group (“the relevant group”) for which the parent entity is the parent is a group within sub-paragraph (2).
(2)The groups within this sub-paragraph are—
(a)a UK banking group,
(b)a building society group,
(c)a foreign banking group, or
(d)a relevant non-banking group.
See Part 3 of this Schedule for the definitions of these groups.
(3)“Group”, “parent” and “subsidiary” have the meaning given by those provisions of international accounting standards relating to the preparation of consolidated financial statements (whether or not the parent entity prepares financial statements under those standards).
(4)Accordingly, for the purposes of this Schedule the members of the relevant group are—
(a)the parent entity, and
(b)any other entity which, as at the end of the chargeable period, is a member of the group for the purposes of the provisions mentioned in sub-paragraph (3).
(5)Sub-paragraphs (3) and (4) are subject to what follows.
(6)Sub-paragraph (7) applies if—
(a)as at the end of the chargeable period—
(i)the parent entity is resident in a territory outside the United Kingdom,
(ii)generally accepted accounting practice for entities resident in that territory is or includes US GAAP, and
(iii)the parent entity is a parent for the purposes of those provisions of US GAAP which relate to the preparation of consolidated financial statements (as well as being a parent for the purposes of the provisions mentioned in sub-paragraph (3)), and
(b)the parent entity prepares consolidated financial statements for the chargeable period under US GAAP.
(7)The relevant group is the group for which the parent entity is the parent for the purposes of the provisions of US GAAP mentioned in sub-paragraph (6)(a)(iii) (instead of the provisions mentioned in sub-paragraph (3)) and, accordingly, for the purposes of this Schedule the members of the relevant group are—
(a)the parent entity, and
(b)any other entity which, as at the end of the chargeable period, is a member of the group for the purposes of the provisions of US GAAP mentioned in sub-paragraph (6)(a)(iii).
(8)This paragraph applies in relation to periods of account ending on or after 1 January 2011.
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