# Finance Act 2011, Paragraph 15Q


(1) This paragraph applies if the bank levy is charged as provided for by paragraph 4 (groups).
(2) Sub-paragraph (3) applies in relation to a UK resident entity if—
(a) it is a member of a UK sub-group in respect of which an entity-by-entity election has been made under paragraph 15L (whether or not it is a designated FPE entity), or
(b) it is a designated FPE entity and a member of a UK sub-group in respect of which no entity-by-entity election has been made.
(3) Any equity of the entity is to be left out so far as it would have been eliminated under normal consolidation procedures under international accounting standards, but disregarding from the consolidation any non-UK resident entities.

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