simple capital issuer

45a BIPRU firm that meets the following conditions:

1. (a) it does not raise capital through a special purpose vehicle;
2. (b) it only includes non-convertible and non-exchangeable capital instruments in its capital resources;
3. (c) (if it includes capital instruments in its capital resources on which coupons are payable) such coupons are not subject to a step-up;
4. (d) it only includes capital instruments in its tier one capital resources consisting of ordinary shares, PIBS, perpetual non-cumulative preference shares or partnership or limited liability partnership capital accounts;
5. (e) it only includes non-redeemable capital instruments in its tier one capital resources; and
6. (f) (if it includes capital instruments in its tier one capital resources on which coupons are payable) such coupons are non-cumulative, non-mandatory and in cash.