Finance Act 2011 (c. 11)

SCHEDULES

SCHEDULE 19 U.K. The bank levy

Part 4 U.K. Chargeable equity and liabilities

“Excluded” equity and liabilities U.K.

30 (1) Equity and liabilities which are “tier one capital equity and liabilities” are excluded. U.K.

(2) “ Tier one capital equity and liabilities ” means, in relation to an entity or a group of entities, so much of the entity or group's equity and liabilities as—

(a) is tier one capital before deductions for the purposes of the [F1 PRA Handbook], or

(b) would be treated as tier one capital before deductions for those purposes were the tier one capital before deductions of the entity or group as at the end of the chargeable period to be determined under that Handbook.

Textual Amendments

F1 Words in Sch. 19 para. 30(2)(a) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments) Order 2013 (S.I. 2013/636), art. 1(2), Sch. para. 15(2)