{
  "url": "https://openlegislation.uk/finance-act-2011-bank-levy-amendment-of-netting-agreements-provisions-order-2011/article-5",
  "json_url": "https://openlegislation.uk/finance-act-2011-bank-levy-amendment-of-netting-agreements-provisions-order-2011/article-5.json",
  "legislation": "uksi/2011/3015",
  "legislation_title": "The Finance Act 2011 (Bank Levy: Amendment of Netting Agreements Provisions) Order 2011",
  "legislation_url": "https://openlegislation.uk/finance-act-2011-bank-levy-amendment-of-netting-agreements-provisions-order-2011",
  "path": "article/5",
  "kind": "article",
  "number": "5",
  "heading": "Amendment of paragraph 20",
  "text": "(1) Paragraph 20 (chargeable equity and liabilities of a relevant non-banking group) is amended as follows.\n(2) In sub-paragraph (8)—\n(a) in paragraph (a) omit “, and N has assets which correspond to those liabilities”; and\n(b) for paragraph (b) substitute—\n“(b) M, or another entity within sub-paragraph (9), recognises, as assets, amounts due from N or another entity not within that sub-paragraph (“N’s liabilities”),”.\n(3) In sub-paragraph (10)—\n(a) in paragraph (b) for “N’s assets corresponding to those liabilities are” substitute “N recognises assets in respect of those liabilities as”;\n(b) for paragraph (c) substitute—\n“(c) references to amounts due from N or another entity not within sub-paragraph (9) include securities provided by M or another entity within that sub-paragraph to N or another entity not within sub-paragraph (9) as collateral, but only where M or that other entity within that sub-paragraph recognises those securities in its balance sheet or statement of financial position, and”;\n(c) omit paragraph (d) (and the “and” after it);\n(d) in paragraph (e)(i) omit “assets which correspond to”; and\n(e) after paragraph (e) insert—\n“Section 556 of CTA 2009 (meaning of securities and similar securities) applies for the purposes of this sub-paragraph as it applies for the purposes of Chapter 10 of Part 6 of that Act.”\n(4) Omit sub-paragraph (11).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2011/3015/article/5",
    "retrieved_at": "2026-10-29T01:47:09.049706+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."
}