Article 77
Conditions for reducing own funds
An institution shall require the prior permission of the competent authority to do either or both of the following:
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(a) |
reduce, redeem or repurchase Common Equity Tier 1 instruments issued by the institution in a manner that is permitted under applicable national law; |
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(b) |
effect the call, redemption, repayment or repurchase of Additional Tier 1 instruments or Tier 2 instruments as applicable, prior to the date of their contractual maturity. |