# Finance Act 2011, Paragraph 15E


(1) This paragraph applies if—
(a) the bank levy is charged as provided for by paragraph 5 (entities which are not members of groups), and
(b) the relevant entity is a UK resident entity which has a foreign permanent establishment.
(2) The relevant entity may, for the purposes of determining its UK-based equity and liabilities, elect to disregard the non-UK allocated equity and liabilities attributable to any or all of its foreign permanent establishments.

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