S.L. 371.17 Art. 3CReduction of additional Tier 1 or Tier 2 instruments.

In accordance with Article 78(4) of the CRR, the competent authority may grant permission for credit institutions to call, redeem, repay or repurchase Additional Tier 1 or Tier 2 instruments during the five years following their date of issuance under:

(a) the conditions laid down in points (c) and (e) of Article 78(4) of the CRR;

(b) the conditions laid down in points (a), (b) and (d) of Article 78(4) of the CRR: Provided that the conditions laid down in Article 78(1) of the CRR are met.