Finance Act 2022

Amendment of section 126AA of Principal Act (further levy on certain financial institutions)

72. Section 126AA of the Principal Act is amended—

(a) in subsection (1), in paragraph (d) of the definition of “base year”, by the substitution of “years 2021, 2022 and 2023” for “years 2021 and 2022”,

(b) in subsection (2)—

(i) in paragraph (a), by the substitution of “2023” for “2022”, and

(ii) in paragraph (b), by the substitution of “each of the years 2022 and 2023” for “the year 2022”,

and

(c) in subsection (3A), by the substitution of “year 2022 or 2023” for “year 2022”.