Foreign Acquisitions and Takeovers Regulation 2015 (Cth)

PART 3 - EXEMPTIONS  

Division 3 - Exemptions for certain actions  

Subdivision C - Actions relating to entities  

SECTION 34  

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 .