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  1. Point in time
    2014-04-27

GENPRU TP 8B Miscellaneous capital resources definitions for BIPRU firms: Core tier one capital

1Application

8B.1

R

This section applies to a BIPRU firm.

Core tier one capital

8B.2

R

A provision in this section applies on a consolidated basis for the purposes of BIPRU 8 (Group risk - consolidation) to a UK consolidation group to the extent that, and in the same manner that, the provision in GENPRU to which it relates applies on a consolidated basis.2

8B.5

R

A BIPRU firm may treat an ordinary share that has different voting rights to other ordinary shares issued by the firm as eligible for inclusion within stage A of the capital resources table (Core tier one capital) without making a notification of issue or change in voting rights to the appropriate regulator under GENPRU 2.2.83B R if:

(1)

on 30 December 2010 the firm was subject to GENPRU;

(2)

the firm issued the ordinary share on or before 30 December 2010 and the shareholders were bound by the differences in voting rights on or before 30 December 2010; and

(3)

as at 30 December 2010 the firm included the ordinary share, and was entitled to include it, in the calculation of capital resources under GENPRU as permanent share capital;

provided that by 30 June 2011 the firm provides the appropriate regulator with full details of the ordinary shares, their terms of issue and the differences in voting rights applicable to those ordinary shares.