2(1)This Schedule applies to any period of account of the worldwide group for which—U.K.
(a)the UK net debt of the group (see paragraphs 3 and 4), exceeds
(b)75% of the worldwide gross debt of the group (see paragraph 5).
(2)But a period of account that is within sub-paragraph (1) is not a period of account to which this Schedule applies if the worldwide group is a qualifying financial services group in that period (see paragraph 7).
(3)The Treasury may by order amend sub-paragraph (1)(b) by substituting a higher or lower percentage for the percentage for the time being specified there.
(4)No order may be made under sub-paragraph (3) unless a draft of the statutory instrument containing it has been laid before, and approved by a resolution of, the House of Commons.
(5)An order under sub-paragraph (3) may only have effect in relation to periods of account of the worldwide group beginning after the date on which the order is made.