OpenLegislation

Division (iii) With the approval of SoFFin and after consultation with and approval of the Commission, the following items are not excluded:

United Kingdom

Original text. Later amendments are not shown.

  1. (a)

    the exercising of cancellation rights or any other payback or termination of other own capital instruments due to the expiry of recognition of the instrument in question as a component of the own capital category of HRE or of an entity subject to registration for which it was created;

  2. (b)

    replacing an existing other own capital instrument with a new instrument of at least the same own capital category, level and duration, although replacing an other own capital instrument with the SoFFin own capital instruments is not permitted; and

  3. (c)

    repurchase of other own capital instruments at significantly less than the issue price.