- Draft legislation
This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Taxation of Regulatory Capital Securities Regulations 2013 (revoked) No. 3209
2.—(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(1),
“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(2) (as amended from time to time).
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”.
OJ L 176/1, 27.6.13.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Draft Explanatory Memorandum sets out a brief statement of the purpose of a Draft Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Draft Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: