{
  "url": "https://openlegislation.uk/bank-of-england-act-1998/schedule-2ZA/paragraph-5",
  "json_url": "https://openlegislation.uk/bank-of-england-act-1998/schedule-2ZA/paragraph-5.json",
  "legislation": "ukpga/1998/11",
  "legislation_title": "Bank of England Act 1998",
  "legislation_url": "https://openlegislation.uk/bank-of-england-act-1998",
  "path": "schedule/2ZA/paragraph/5",
  "kind": "paragraph",
  "number": "5",
  "heading": "Liability to pay the levy",
  "text": "(1) The amount of the levy that an eligible institution is liable to pay in respect of a levy year is to be determined by the Bank in accordance with regulations made by the Treasury.\n(2) Regulations under sub-paragraph (1) may—\n(a) make provision by reference to the Bank’s anticipated levy requirement in respect of the levy year (see paragraph 4);\n(b) make provision by reference to specified liabilities of an eligible institution;\n(c) make provision for cases in which no amount of the levy or a reduced amount of the levy is payable.\n(3) Regulations made by virtue of sub-paragraph (2)(b) may include (among other things) provision—\n(a) specifying types of liability that may or may not be taken into account for specified purposes;\n(b) about how and when liabilities of a specified type are to be taken into account for specified purposes;\n(c) about how the amount of a liability of a specified type is to be determined, including specifying times, or periods of time, by reference to which the amount is to be determined;\n(d) for an amount of a liability of a specified type to be treated as reduced by the amount of assets of a specified type.\n(4) Regulations under sub-paragraph (1) may include provision conferring a discretion on the Bank to determine specified matters (including matters mentioned in sub-paragraph (2)(b) or (3)).\n(5) Regulations made by virtue of sub-paragraph (4) may, in particular, confer a discretion—\n(a) to determine the method used to determine a matter, and\n(b) to determine different methods to be used in relation to different eligible institutions.\n(6) In this section, “specified” means specified in the regulations.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 2ZA inserted (1.1.2024 for specified purposes, 1.3.2024 in so far as not already in force) by Financial Services and Markets Act 2023 (c. 29), ss. 70(4), 86(3); S.I. 2023/1382, reg. 9(1)(c); S.I. 2024/250, reg. 2(b)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1998/11/schedule/2ZA/paragraph/5",
    "retrieved_at": "2026-10-29T09:23:10.863404+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}