the loan is repayable only on maturity or on the expiration of a period of notice in accordance with paragraph (c) below or on the winding up of the firm;
in the event of the winding up of the firm, the loan ranks after the claims of all other creditors and is not to be repaid until all other debts outstanding at the time have been settled;
the minimum original maturity of the loan is 5 years; or
the loan does not have a minimum or fixed maturity but requires 5 years notice of repayment; and
the loan is fully paid-up.
A firm wishing to include a qualifying subordinated loan in its calculation of liquid capital must:
A firm including a qualifying subordinated loan in its calculation of liquid capital must not:
secure all or any part of the loan;
redeem, purchase or otherwise acquire any of the liabilities of the borrower in respect of the loan;
amend or concur in amending the terms of the loan agreement;
repay all or any part of the loan otherwise than in accordance with the terms of the loan agreement; or
take or omit to take any action whereby the subordination of the loan or any part thereof might be terminated, impaired or adversely affected.