SCHEDULES

F1SCHEDULE 11ATRANSFERABLE SECURITIES

Annotations:
Amendments (Textual)

PART 2

8

1

Non-equity transferable securities, issued in a continuous or repeated manner by a credit institution, which satisfy the conditions in sub-paragraph (2).

2

The conditions are—

F2a

that the total consideration for the transferable securities being offered in the EEA States is less than 75,000,000 euros (or an equivalent amount); and

b

those mentioned in paragraph 5(2)(a) and (b).

3

In determining whether sub-paragraph (2)(a) is satisfied in relation to an offer (“offer A”), offer A is to be taken together with any other offer of transferable securities of the same class made by the same person which—

a

was open at any time within the period of 12 months ending with the date on which offer A is first made; and

b

had previously satisfied sub-paragraph (2)(a).

4

For the purposes of this paragraph, an amount (in relation to an amount denominated in euros) is an “equivalent amount” if it is an amount of equal value denominated wholly or partly in another currency or unit of account.

5

The equivalent is to be calculated at the latest practicable date before (but in any event not more than 3 working days before) the date on which the offer is first made.

6

“Credit institution” means a credit institution as defined in F3Article 4(1)(1) of the capital requirements regulation.