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5(1)The bank levy is charged if, as at the end of a period of account (“the chargeable period”) of an entity (“the relevant entity”), the relevant entity—
(a)is a UK resident bank, a building society or a relevant foreign bank, and
(b)does not fall within sub-paragraph (2) or (3).
(2)An entity falls within this sub-paragraph if it is an entity in relation to which paragraph 4(1) applies as at the end of the chargeable period.
(3)An entity (“A”) falls within this sub-paragraph if—
(a)there is another entity (“B”) in relation to which paragraph 4(1) applies as at the end of the chargeable period (or in relation to which paragraph 4(1) would apply if B had a period of account ending at the same time as the chargeable period), and
(b)A is (or would be) a member of the relevant group.
(4)This paragraph applies in relation to periods of account ending on or after 1 January 2011.
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