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GENPRU 2.2.159RRP
A capital instrument must not form part of the tier two capital resources of a firm unless it meets the following conditions:(1) the claims of the creditors must rank behind those of all unsubordinated creditors;(2) the only events of default must be non-payment of any amount falling due under the terms of the capital instrument or the winding-up of the firm and any such event of default must not prejudice the subordination in (1);(3) to the fullest extent permitted under the