# The Enterprise Act 2002 (Merger Fees and Determination of Turnover) Order 2003, Paragraph 11: Credit institutions and financial institutions

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

The applicable turnover of an enterprise which is a credit institution or financial institution shall be limited to the sum of the following income as defined in Council Directive (EEC) 86/635 received by the branch or division of that institution established in the United Kingdom after deduction of value added tax and other taxes directly related to those items:
(a) interest income and similar income;
(b) income from securities:
income from shares and other variable yield securities;
income from participating interests;
income from shares in affiliated undertakings;
(c) commissions receivable;
(d) net profit on financial operations;
(e) other operating income.

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Source: https://www.legislation.gov.uk/uksi/2003/1370/schedule/paragraph/11 (the official version)
Page: https://openlegislation.uk/enterprise-act-2002-merger-fees-and-determination-of-turnover-order-2003/schedule/paragraph-11
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.