SCHEDULESF1
F1SCHEDULE 11ATRANSFERABLE SECURITIES
PART 1
5
(1)
Non-equity transferable securities, issued in a continuous or repeated manner by a credit institution, which satisfy the conditions in sub-paragraph (2).
(2)
The conditions are that the transferable securities—
(a)
are not subordinated, convertible or exchangeable;
(b)
do not give a right to subscribe to or acquire other types of securities and are not linked to a derivative instrument;
(c)
materialise reception of repayable deposits; and
(d)
are covered by a deposit guarantee under directive 94/19/EC of the European Parliament and of the Council on deposit-guarantee schemes.