SCHEDULE 19The bank levy
Part 2Charging of bank levy
Bank levy to be charged in relation to certain groups of entities
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(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”)—
(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)
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F1(6)
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F1(7)
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(8)
This paragraph applies in relation to periods of account ending on or after 1 January 2011.