541. The National Park Authorities (Levies) (England) Regulations 1996 are amended as follows—
(a)for paragraph (3)(a) of regulation 8(1) (interest on unpaid levies) substitute—
“(a)the reference banks are the seven largest persons who-
(i)have permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits,
(ii)are incorporated in the United Kingdom and carrying on there a regulated activity of accepting deposits, and;
(iii)quote a base rate in sterling, and”;
(b)in paragraph (3)(b) of regulation 8, for “an institution” substitute “a person” and for “its” (in both places) substitute “his”;
(c)paragraph (4)(a) of regulation 8 is revoked;
(d)in paragraph (4)(b) of regulation 8, for “that institution” the first time it appears substitute “a person” and the second time it appears substitute “that person”;
(e)after paragraph (4) of regulation 8 insert—
“(5) Paragraph (3)(a) must be read with—
(a)section 22 of the Financial Services and Markets Act 2000;
(b)any relevant order under that section; and
(c)Schedule 2 to that Act.”.
Regulation 8(3) was amended by S.I. 1998/1129.