Part 3 Groups Covered by the Bank Levy
Finance Act 2011 (2011 c 11) | Legislation

Part 3 Groups Covered by the Bank Levy

Definitions of “UK banking groupâ€, “building society groupâ€, “foreign banking group†and “relevant non-banking groupâ€

8

The relevant group is a “UK banking group†if—

(a)     the group is a banking group (see paragraph 12), and

(b)     the parent entity is a UK resident entity.

9

The relevant group is a “building society group†if the parent entity is a building society.

10

The relevant group is a “foreign banking group†if—

(a)     the group is a banking group (see paragraph 12), and

(b)     the parent entity is a non-UK resident entity.

11

The relevant group is a “relevant non-banking group†if—

(a)     the members of the group include at least one UK resident bank or relevant foreign bank, and

(b)     the group is neither a banking group nor a building society group.

Definition of “banking groupâ€

12

(1)     The relevant group is a “banking group†if—

(a)     condition A, B, C or D is met, and

(b)     the exempt activities condition is not met (see paragraph 13).

(2)     Condition A is that the parent entity is a UK resident bank

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