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There is imposed on the profits before tax on the institutions

(a) specified in Part A of the Schedule to this Act a levy of "7 1/2 %",

(b) specified in Part B of the Schedule to this Act a levy of "5%".

(c) specified in Part C of the Schedule to this Act, a levy of "3.5%". [As inserted by the National Reconstruction Levy (Amendment) (No.2) Act, 2003 (Act 648), s.(a) and further amended by National Reconstruction Levy (Amendment) Act, 2005 (Act 687) s. 2].