The NCIS Service Authority (Levying) Order 1997 (S.I. 1997/2284)
Interest on unpaid levies
562. In article 14 of the NCIS Service Authority (Levying) Order 1997 (interest on unpaid levies)(1), for paragraphs (2) and (3) substitute—
“(2) For the purposes of paragraph (1) above—
(a)the reference banks are the seven largest persons who—
(i)have permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits;
(ii)are incorporated in the United Kingdom and carrying on there a regulated activity of accepting deposits; and
(iii)quote a base rate in sterling;
(b)the size of a person is to be determined by reference to his total consolidated gross assets denominated in sterling, as shown in his audited end-year accounts last published before the beginning of the period for which interest is payable.
(3) In this article, “consolidated gross assets” of a person is a reference to the gross assets of that person together with any subsidiary within the meaning of section 736 of the Companies Act 1985.
(4) Paragraph (2)(a) above must be read with—
(a)section 22 of the Financial Services and Markets Act 2000;
(b)any relevant order under that section; and
(c)Schedule 2 to that Act.”.
Article 14 was amended by S.I. 1998/1129.