# Finance Act 2011, Paragraph 15V


(1) This paragraph applies for the purposes of paragraphs 15W and 15X.
(2) References to “loss absorbing instruments” are references to—
(a) tier one capital equity and liabilities, and
(b) other instruments,
which satisfy a loss absorbing capacity or recapitalisation requirement.
(3) In this paragraph and paragraphs 15W and 15X, “tier one capital equity and liabilities” means—
(a) equity and liabilities which are “tier one equity and liabilities” within the meaning of paragraph 30, and
(b) equity and liabilities that are (or are of a description) specified, or meet such conditions as may be specified, in regulations made by the Treasury.
(4) A “loss absorbing capacity or recapitalisation requirement” is a requirement—
(a) that is imposed, in relation to tier one capital equity and liabilities or other instruments issued by an entity, by an authority in the exercise of its regulatory functions under the law of the United Kingdom or of a country or territory outside the United Kingdom, and
(b) that is (or is of a description) specified, or meets such conditions as may be specified, in regulations made by the Treasury.

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Source: https://www.legislation.gov.uk/ukpga/2011/11/schedule/19/paragraph/15V (the official version)
Page: https://openlegislation.uk/finance-act-2011/schedule-19/paragraph-15V
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.