# Finance Act 2011, Paragraph 15C


(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.

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Source: https://www.legislation.gov.uk/ukpga/2011/11/schedule/19/paragraph/15C (the official version)
Page: https://openlegislation.uk/finance-act-2011/schedule-19/paragraph-15C
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.