Schedule 2ZA, paragraph 5

The amount of the levy that an eligible institution is liable to pay in respect of a levy year is to be determined by the Bank in accordance with regulations made by the Treasury. Regulations under sub-paragraph (1) may— make provision by reference to the Bank’s anticipated levy requirement in respect of the levy year (see paragraph 4); make provision by reference to specified liabilities of an eligible institution; make provision for cases in which no amount of the levy or a reduced amount of the levy is payable. Regulations made by virtue of sub-paragraph (2)(b) may include (among other things) provision— specifying types of liability that may or may not be taken into account for specified purposes; about how and when liabilities of a specified type are to be taken into account for specified purposes; about how the amount of a liability of a specified type is to be determined, including specifying times, or periods of time, by reference to which the amount is to be determined; for an amount of a liability of a specified type to be treated as reduced by the amount of assets of a specified type. Regulations under sub-paragraph (1) may include provision conferring a discretion on the Bank to determine specified matters (including matters mentioned in sub-paragraph (2)(b) or (3)). Regulations made by virtue of sub-paragraph (4) may, in particular, confer a discretion— to determine the method used to determine a matter, and to determine different methods to be used in relation to different eligible institutions. In this section, “specified” means specified in the regulations.

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Source: legislation.gov.uk · retrieved 2026-09-04