This section has no associated Explanatory Notes
[F15(1)Non-equity transferable securities, issued in a continuous or repeated manner by a credit institution, which satisfy the conditions in sub-paragraph (2).U.K.
(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.]
Textual Amendments
F1Sch. 11A inserted (1.7.2005) by The Prospectus Regulations 2005 (S.I. 2005/1433), reg. 2(2), Sch. 2