Regulation 208 Article 484 (eligibility for grandfathering of items)

In Article 484(3) (eligibility for grandfathering of items) for “capital within the meaning of Article 22 of Directive 86/635/EEC” substitute “capital, which for these purposes comprises all amounts, regardless of their actual designations, which, in accordance with the legal structure of the institution concerned, are regarded under the applicable law of the United Kingdom, or any part of it, or of a third country, as equity capital subscribed by the shareholders or other proprietors”.