Article 77
Conditions for reducing own funds and eligible liabilities
An institution shall obtain the prior permission of the competent authority to do any of the following:
reduce, redeem or repurchase Common Equity Tier 1 instruments issued by the institution in a manner that is permitted under applicable national law;
reduce, distribute or reclassify as another own funds item the share premium accounts related to own funds instruments;
effect the call, redemption, repayment or repurchase of Additional Tier 1 or Tier 2 instruments prior to the date of their contractual maturity.