X1PART TWOF1OWN FUNDS AND ELIGIBLE LIABILITIES

Annotations:

TITLE IELEMENTS OF OWN FUNDS

CHAPTER 3Additional Tier 1 capital

Section 1Additional Tier 1 items and instruments

Article 55Consequences of the conditions for Additional Tier 1 instruments ceasing to be met

The following shall apply where, in the case of an Additional Tier 1 instrument, the conditions laid down in Article 52(1) cease to be met:

  1. (a)

    that instrument shall immediately cease to qualify as an Additional Tier 1 instrument;

  2. (b)

    the part of the share premium accounts that relates to that instrument shall immediately cease to qualify as an Additional Tier 1 item.