34Convertible instruments that include a requirement for loss absorption if entity becomes non‑viable

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 Prudential 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.