Commonwealth Numbered Regulations

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FOREIGN ACQUISITIONS AND TAKEOVERS REGULATION 2015 (SLI NO 217 OF 2015) - REG 34

Convertible instruments that include a requirement for loss absorption if entity becomes non-viable

                   The excluded provisions do not apply in relation to an acquisition of an interest in securities if:

                     (a)  the securities are Additional Tier 1 Capital or Tier 2 Capital instruments (within the meaning of the P rudential Standard APS 111--Capital Adequacy: Measurement of Capital , as in force at the time this section commences); and

                     (b)  the securities have not been converted into ordinary shares.

Note:          The Prudential Standard APS 111--Capital Adequacy: Measurement of Capital is made under subsection 11AF(1) of the Banking Act 1959 .



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