GENPRU Sch 2 Notification and reporting requirements
11 The aim of the guidance in the following table is to give the reader a quick overall view of the relevant notification requirements. |
2 It is not a complete statement of those requirements and should not be relied on as if it were. |
3 Table |
Handbook reference |
Matter to be notified |
Contents of notification |
Trigger events |
Time allowed |
Intention to change maximum amount of callable contribution |
Fact of intention and details of the change |
Intention to change the maximum amount |
Adequate advance notice, normally not less than 6 months |
|
Breach or expected breach of GENPRU 2.1.13 R or main BIPRU firm Pillar 1 rules |
Fact of breach or expectation of breach |
Breach or expectation of breach |
Immediately |
|
Intention to deduct illiquid assets rather than material holdings |
Fact of intention |
Intention to start or stop using method in column 2 |
One month prior to change of method |
|
Intention to redeem tier one instrument included in tier one capital resources |
Fact of intention and details of the firm's position after such redemption in order to show how it will meet the capital resources requirement,3 how it will have sufficient financial resources to meet the overall financial adequacy rule2 and, in the case of a BIPRU firm, how it will not otherwise suffer any undue effects to its financial or solvency conditions3 |
Intention to redeem |
At least one month prior to becoming committed to redeem2 2 |
|
Intention to purchase a tier one instrument in accordance with GENPRU 2.2.79A R |
Fact of intention and details of the firm's position after the purchase in order to show how, over an appropriate timescale, adequately stressed, and without planned recourse to the capital markets, it will meet its capital resources requirement and have sufficient financial resources to meet the overall financial adequacy rule |
Intention to purchase |
At least one month prior to becoming committed to purchase |
|
Intention to include in stage A of the capital resources table different classes of the same share type that meet the conditions in GENPRU 2.2.83 R and GENPRU 2.2.83A R but have differences in voting rights. |
Fact of intention. |
Intention to include in stage A of the capital resources table classes of the same share type that have different voting rights. |
At least one month before the shares are issued or (in the case of existing issued shares) the differences in voting rights take effect. |
|
Intention by a building society to issue a capital instrument that includes a coupon limit in its terms of issuance in accordance with GENPRU 2.2.83E R. |
Fact of intention. |
Intention to issue a capital instrument that includes a coupon limit. |
At least one month before the intended date of issue. |
|
Intention to include an unusual transaction in capital under GENPRU 2.2.124 R |
Fact of intention. |
Intention to include in capital |
At least one month prior to inclusion of that capital in capital resources |
|
Proposal to amend a tier two instrument |
Details of the proposed amendment |
Proposal to amend |
One month before amendment is due to take effect |
|
Intention to repay (other than on contractual repayment date) tier two instrument |
Fact of intention and details of the firm's position after such repayment in order to show 2how it will meet the2 capital resources requirement and how it will have sufficient financial resources to meet the overall financial adequacy rule2 22 |
Intention to repay |
Six Months (in the case of an insurer) 2or one Month (in the case of a BIPRU firm) 2prior to becoming committed to 2repayment 22 |
|
Intention to pay interest or principal on subordinated debt included in tier three capital resources if the firm's capital resources are less than 120% of its capital resources requirement |
Fact of intention |
Intention to pay |
One month prior to any payment of interest or principal |
|
Intention to repay (other than on contractual repayment date) tier three capital resources |
Fact of intention and details of how the firm will meet its capital resources requirement after such repayment |
Intention to repay |
One month prior to repayment |