Paragraph 15C F1
(1)
“Chargeable UK resident entity” means a UK resident entity which—
(a)
is a member of the relevant group, but is not a member of a UK sub-group, and
(b)
if the relevant group is a relevant non-banking group, is a banking entity.
(2)
A UK resident entity is a “banking entity” for the purposes of sub-paragraph (1) if it is—
(a)
a UK resident bank, or
(b)
a subsidiary of a UK resident bank.
(3)
In sub-paragraph (2)(b) “subsidiary” has the meaning given by those provisions of international accounting standards which relate to the preparation of consolidated financial statements.
Annotations
Textual amendments
- F1
Sch. 19 paras. 15-15Z5 and cross-headings substituted for Sch. 19 paras. 15-23 (with effect in accordance with Sch. 9 para. 35 of the amending Act) by Finance Act 2018 (c. 3), Sch. 9 para. 2