The Taxation of Banks (Amendments to the Corporation Tax Act 2009, Corporation Tax Act 2010 and Finance Act 2011) Regulations 2022

10.—(1) Section 269BC (banking companies: supplementary definitions) is amended as follows.

(2) After subsection (4), insert—

“(4A) “FCA investment firm” has the meaning given by section 143A of FISMA 2000.”.

(3) In subsection (7), for “PRA Handbook” substitute “PRA Rulebook”.

(4) In subsection (8) omit—

““exempt IFPRU commodities firm”;

“full scope IFPRU investment firm”;

“IFPRU 730k firm”;”.

(5) After subsection (8) insert—

“(8A) The following terms have the meaning given by the FCA Handbook -

“commodity and emission allowance dealer”;

“dealing on own account”;

“financial instrument”;

“initial capital”;

“investment firm”;

“market value”;

“permanent minimum capital requirement”.”.

(6) In subsection (10), for “an IFPRU 730k firm and a full scope IFPRU investment firm” substitute “an FCA investment firm that meets the conditions in section 269B(6B)”.

(7) In subsection (11)—

(a) for “subsection (7)” substitute “this Chapter”;

(b) in the definition of “the PRA Handbook”, for “Handbook”, in each place, substitute “Rulebook”.