2 Amendments to the Loan Relationships and Derivative Contracts (Disregard and Bringing into Account of Profits and Losses) Regulations 2004
1 The Loan Relationships and Derivative Contracts (Disregard and Bringing into Account of Profits and Losses) Regulations 2004 are amended as follows.
S.I. 2004/3256, relevantly amended by S.I. 2005/2012 and 2005/3374.
2 In regulation 2(1), at the appropriate places insert—

““Additional Tier 1 instrument” means an instrument which qualifies as an Additional Tier 1 instrument under Article 52 of the Commission Regulation (EU) No 575/2013;”

,

““deferred shares” has the same meaning as in the Building Societies Act 1986;”

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OJ L 176/1, 27.6.13.
1986 c. 53, see section 119 for the definition of “deferred shares”.
3 In regulations 3(5) and 4(4A), for “of any share capital of the company” substitute—

“of—
(a) any share capital of the company,
(b) in relation to a building society, any deferred shares issued by the building society to the extent that they are accounted for as equity instruments in accordance with generally accepted accounting practice, or
(c) any Additional Tier 1 instrument issued by the company to the extent that it is accounted for as an equity instrument in accordance with generally accepted accounting practice.”

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