# The Bank Levy (Loss Absorbing Instruments) Regulations 2020, Regulation 5: Loss absorbing instruments issued by overseas subsidiaries

Extent: E+W+S+N.I.

(1) The condition in paragraph (2) is specified for the purposes of paragraph 15W(4)(b) of Schedule 19.
(2) The instrument, or an asset representing the instrument, must be held by a UK resident entity for the purpose of satisfying a relevant requirement imposed on a member of the relevant group.

---
Source: https://www.legislation.gov.uk/uksi/2020/1188/regulation/5 (the official version)
Page: https://openlegislation.uk/bank-levy-loss-absorbing-instruments-regulations-2020/regulation-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.