Introduction
Application of these Regulations3
1
These Regulations apply where condition 1 or 2 is met.
2
Condition 1 is that—
a
the bank levy is charged in relation to a UK banking group, a UK sub-group or a UK banking sub-group, and
b
the SRF levy is charged in relation to that UK banking group, UK sub-group or UK banking sub-group.
3
Condition 2 is that—
a
the bank levy is charged in relation to the relevant entity which is a relevant foreign bank, and
b
the SRF levy is charged in relation to that relevant entity.
4
These Regulations apply separately in relation to the imposition of the SRF levy by the law of different foreign territories.