This table belongs to GENPRU 2.2.5 G
Related provisions for GENPRU 2.2.139
1 - 11 of 11 items.
A firm must not redeem any tier one instrument that it has included in its tier one capital resources unless it has notified the FCA18 of its intention at least one month before it becomes committed to do so. When giving notice, the firm must provide details of its position after such redemption in order to show how it will:77(1) meet its capital resources requirement;78(2) 7have sufficient financial resources to meet the overall financial adequacy rule; and8(3) 8in the case
(1) This rule applies to a tier one instrument, tier two instrument or tier three instrument (instrument A) that under its terms is exchanged for or converted into another instrument or is subject to a similar process.(2) This rule also applies to instrument A if under its terms it is redeemed out of the proceeds of the issue of new securities.(3) If the instrument with which instrument A is replaced is included in the same stage of capital or a higher stage of capital as instrument
Permanent share capital means an item of capital which (in addition to satisfying GENPRU 2.2.64 R) meets the following conditions:(1) it is:(a) an ordinary share; or(b) a members' contribution; or(c) part of the initial fund of a mutual; or8(d) [deleted]15815(2) any coupon on it is not cumulative, the firm is under no obligation to pay a coupon in any circumstances and the firm has the right to choose the amount of any coupon that it pays;10(3) the terms upon which it is issued
A BIPRU firm that is a partnership or a limited liability partnership may not include eligible partnership capital or eligible LLP members' capital in its tier one capital resources unless (in addition to GENPRU 2.2.62 R (General conditions relating to tier one capital)) it complies with GENPRU 2.2.83R (2) (10Coupons should not be cumulative or mandatory) and GENPRU 2.2.83A R to GENPRU 2.2.83C R (General conditions for eligibility of capital instruments as core tier one capital
(1) A firm must include share premium account relating to the issue of a share forming part of its core tier one capital in its core tier one capital.(2) A firm must include share premium account relating to the issue of a share forming part of another tier of capital in that other tier.(3) A firm that is incorporated under the Companies Act 20066 may include its share premium account as core tier one capital notwithstanding (2) to the extent that the terms of issue of the share
(1) This rule applies to a potential tier one instrument if:(a) it is redeemable by the firm (ignoring GENPRU 2.2.77 R (Meaning of redemption));(b) it provides that if the issuer does not exercise that right or does not do so in specified circumstances the issuer must or may have to redeem it in whole or in part through the issue of shares eligible for inclusion in the firm'stier one capital resources or the instrument converts or may convert into such shares; and(c) GENPRU 2.2.77
In GENPRU 2.2.138 R to GENPRU 2.2.142 R, the conversion ratio means the ratio of:(1) the number of units of the conversion instrument that the firm must issue to satisfy its redemption obligation (so far as it is to be satisfied by the issue of conversion instruments) in respect of one unit of the original capital item; to(2) one unit of the original capital item.
(1) For the purposes of calculating the amount of a lower tier two instrument which may be included in a firm'scapital resources:(a) in the case of an instrument with a fixed maturity date, in the final five years to maturity; and(b) in the case of an instrument with or without a fixed maturity date but where five years' or more notice of redemption or repayment has been given, in the final five years to the date of redemption or repayment;the principal amount must be amortised
Table: Application of tier two capital rules to tier three debt
This table belongs to GENPRU 2.2.244 R
Adjustment |
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GENPRU 2.2.159 R (General conditions for eligibility as tier two capital) |
The references in GENPRU 2.2.159R (5) (Capital must not become repayable prior to stated maturity date except in specified circumstances) to repayment at the option of the holder are replaced by a reference to GENPRU 2.2.242R (1) (Upper tier three capital should have maturity or notice period of at least two years) The reference in GENPRU 2.2.159R (10) (Description of tier two capital in marketing documents) to GENPRU 2.2.265R18 |
GENPRU 2.2.161 R (Additional remedies) |
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GENPRU 2.2.163 R (Legal opinion where debt subject to a law of a country outside the United Kingdom) |
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GENPRU 2.2.169 R (Ineligibility as tier two capital owing to connected transactions) |
The reference to GENPRU 2.2.177 R (General eligibility conditions for upper tier two capital) does not apply |
GENPRU 2.2.171 R (Amendments to terms of the capital instrument) |
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GENPRU 2.2.172 R to GENPRU 2.2.173 R (Redeemability at the option of the issuer) |
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GENPRU 2.2.174 R (Notification of redemption) |
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References in the rules in the first column to the fifth anniversary are amended so as to refer to the second anniversary. |
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A company2 must ensure that any definitive document of title for a share4 (other than a bearer security) includes the following matters on its face (or on the reverse in the case of (5) and (7)):24(1) the authority under which the company2 is constituted and the country of incorporation and registered number (if any);2(2) the number or amount of shares4 the certificate represents and, if applicable, the number and denomination of units (in the top right-hand corner);4(3) a footnote
A company2 must notify a RIS as soon as possible (unless otherwise indicated in this rule) of the following information relating to its capital:2(1) any proposed change in its capital structure including the structure of its listeddebt securities, save that an announcement of a new issue may be delayed while marketing or underwriting is in progress;(2) [deleted]11(3) any redemption of listedshares4 including details of the number of shares4 redeemed and the number of shares4 of
Feeder schemes which (in respect of investment in units in collective investment schemes) are dedicated to units in a single collective investment scheme must, in addition to the investment in the master scheme, only hold cash or near cash to maintain sufficient liquidity to enable the scheme to meet its commitments, such as redemptions. Feeder schemes may also use techniques and instruments for the purpose of efficient portfolio management, where appropriate, such as forward
If a firm ceases to be a participant firm or carry out activities within one or more classes54 part way through a financial year6 of the compensation scheme:44(1) it will remain liable for any unpaid levies which the FSCS has already made on the firm; and41(2) the FSCS may make one or more levies4 upon it (which may be before or after the firm5 has ceased to be a participant firm or carry out activities within one or more classes5,4 but must be before it ceases to be an authorised
A listed company must notify a RIS as soon as possible (unless otherwise indicated in this rule) of the following information relating to its capital:(1) any proposed change in its capital structure including the structure of its listeddebt securities, save that an announcement of a new issue may be delayed while marketing or underwriting is in progress;(2) [deleted]11(3) any redemption of listedshares including details of the number of shares redeemed and the number of shares
In complying with CASS 7.13.8 R and CASS 7.13.10 R, a firm should consider, as appropriate, together with any other relevant matters:(1) the capital of the CRD credit institution or bank;(2) the amount of client money placed, as a proportion of the CRD credit institution or bank's capital and deposits, and, in the case of a qualifying money market fund, compared to any limit the fund may place on the volume of redemptions in any period;(3) the extent to which client money that