Article 73 - Distributions on instruments
Table of content
Distributions on instruments
Competent authorities shall grant the prior permission referred to in paragraph 1 only where they consider all the following conditions to be met:
the ability of the capital instrument or of the liability to absorb losses would not be adversely affected by the discretion referred to in paragraph 1, or by the form in which distributions could be made;
the quality of the capital instrument or liability would not otherwise be reduced by the discretion referred to in paragraph 1, or by the form in which distributions could be made.
Paragraph 4 shall not apply where the institution is a reference entity in that broad market index unless both the following conditions are met:
the competent authority has not reached a different determination from that referred to in point (a).
EBA shall submit those draft regulatory technical standards to the Commission by 28 July 2013.
Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010.