The Bank Levy (Double Taxation Relief) (Single Resolution Fund Levy) Regulations 2016

Specified equivalent foreign levy

2.—(1) The equivalent foreign levy in respect of which these Regulations are made is the SRF levy.

(2) In these Regulations, “SRF levy” means the individual contributions within Article 69 or 70 of the SRM Regulation raised from entities by a national resolution authority and transferred to the single resolution fund (established by the SRM Regulation) in accordance with the Agreement.

(3) In this regulation—

“Agreement” has the same meaning as in Article 3(1)(36) of the SRM Regulation;

“entities” means entities within Article 2 of the SRM Regulation;

“national resolution authority” has the same meaning as in Article 3(1)(3) of the SRM Regulation;

“the SRM Regulation” mean Regulation (EU) No 806/2014 of the European Parliament and of the Council establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Resolution Fund and amending Regulation (EU) No 1093/2010(1)

(1)

OJ L 225,30.7.2014, p.1.