Related provisions for IPRU-INV 9.5.4

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IPRU-INV 9.5.3RRP
Perpetual long-term subordinated loans and perpetual cumulative preference share capital may not be included in the calculation of own funds unless they meet the following requirements: (1) it may not be reimbursed on the holder's initiative or without the prior agreement of the FCA; (2) the instrument must provide for the firm to have the option of deferring the dividend payment on the share capital; (3) the shareholder's
IPRU-INV 9.5.5RRP
A long-term subordinated loan may not be included in the calculation of own funds unless it meets the following requirements: (1) it must be fully paid-up; (2) it has an original maturity of at least five years; (3) the extent to which it may be used in the calculation of own funds shall be amortised on a straight line basis during at least the five years before repayment; and (4) it must not become repayable before the agreed repayment date other than in the