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Finance Act 2011, Cross Heading: Bank levy to be charged in relation to certain groups of entities is up to date with all changes known to be in force on or before 27 April 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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4(1)The bank levy is charged if, as at the end of a period of account (“the chargeable period”) of an entity (“the parent entity”)—U.K.
(a)the parent entity is a parent and is not a subsidiary of any other entity, and
(b)the group (“the relevant group”) for which the parent entity is the parent is a group within sub-paragraph (2).
(2)The groups within this sub-paragraph are—
(a)a UK banking group,
(b)a building society group,
(c)a foreign banking group, or
(d)a relevant non-banking group.
See Part 3 of this Schedule for the definitions of these groups.
(3)“Group”, “parent” and “subsidiary” have the meaning given by those provisions of international accounting standards relating to the preparation of consolidated financial statements (whether or not the parent entity prepares financial statements under those standards).
(4)Accordingly, for the purposes of this Schedule the members of the relevant group are—
(a)the parent entity, and
(b)any other entity which, as at the end of the chargeable period, is a member of the group for the purposes of the provisions mentioned in sub-paragraph (3).
F1(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F1(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F1(7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(8)This paragraph applies in relation to periods of account ending on or after 1 January 2011.
Textual Amendments
F1Sch. 19 para. 4(5)-(7) omitted (with effect in accordance with Sch. 9 para. 35 of the amending Act) by virtue of Finance Act 2018 (c. 3), Sch. 9 para. 22
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