SCHEDULES
SCHEDULE 19The bank levy
Part 8Definitions
“Long term” equity and liabilities
76
1
Liabilities are also “long term” so far as they consist of non-protected deposits.
2
But sub-paragraph (1) does not apply to a deposit if the depositor is—
a
an authorised person for the purposes of FISMA 2000 (see section 31 of that Act), or
b
an entity which if it were a UK resident entity which carried on its activities in the United Kingdom would be required to be an authorised person.
3
A deposit is “non-protected” so far as it is not a protected deposit for the purposes of paragraph 29.
4
For the purposes of this paragraph—
a
“ deposit ” has the meaning given by article 5(2) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 ( S.I. 2001/544), and
b
in relation to a deposit held in a territory outside the United Kingdom, the exclusions in articles 6 to 9AB of that Order apply with whatever modifications are appropriate to achieve the following purpose.
5
The purpose is that the exclusions are to cover, essentially, the same matters in relation to the territory concerned as they cover in relation to the United Kingdom.