Regulation 4 Conditions in relation to relevant securities
(1)
Conditions A and B are specified in relation to the relevant security.
(2)
Condition A is that the term of the relevant security does not exceed 50 years.
(3)
Condition B is that—
(a)
at the time the relevant security was entered into, it had a minimum value of £10 million; or
(b)
where the relevant security had a lower value at the time it was entered into but it was comprised in a single placement with other relevant securities to the same debtor, the placement had a minimum value of £10 million.