Regulation 2 Regulatory capital securities

(1)

For the purposes of these Regulations, “regulatory capital security” means a security which qualifies, or has qualified, as—

(a)

an Additional Tier 1 instrument and forms, or formed, a component of Additional Tier 1 capital for the purposes of CRR, or

(b)

a Tier 2 instrument and forms, or formed, a component of Tier 2 capital for the purposes of CRR.

(2)

In paragraph (1), “security” does not include shares other than deferred shares issued by a building society within paragraph (1)(a).

(3)

For the purposes of this regulation—

“Additional Tier 1 instrument” means a security which qualifies as an Additional Tier 1 instrument under Article 52 of CRR,
“building society” and “deferred shares” have the same meanings as in the Building Societies Act 1986^f1,
“Tier 2 instrument” means a security which qualifies as a Tier 2 instrument under Article 63 of CRR.

(4)

In these Regulations, “CRR” means the Commission Regulation (EU) No 575/2013^f2 (as amended from time to time).

Annotations

f1: 1986 c. 53; section 109 was amended by paragraph 8 of Schedule 12 to the Finance Act 1988 (c. 39); see also section 119 for the definitions of “building society” and “deferred shares”.
f2: OJ L 176/1, 27.6.13.