6
Own Funds Instruments Issued Under Non-EEA Law
6.1
A firm must demonstrate to the PRA that any Additional tier 1 instruments or Tier 2 instruments issued by it that are governed by the law of a third country are by their terms capable, as part of a resolution of the firm, of being written down or converted into Common Equity Tier 1 instruments of the firm to the same extent as an equivalent own funds instrument issued under the law of the United Kingdom.
- 01/01/2014
6.2
A firm must include in the materials it provides to the PRA under 6.1 a properly reasoned independent legal opinion from an individual appropriately qualified in the relevant third country.
- 01/01/2014