Article 55
Consequences of the conditions for Additional Tier 1 instruments ceasing to be met
The following shall apply where, in the case of an Additional Tier 1 instrument, the conditions laid down in Article 52(1) cease to be met:
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(a) |
that instrument shall immediately cease to qualify as an Additional Tier 1 instrument; |
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(b) |
the part of the share premium accounts that relates to that instrument shall immediately cease to qualify as an Additional Tier 1 item. |