CA-2.1.6
Past version: Effective from 18 Jul 2025 to 30 Jun 2007
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Tier 1 capital elements included under Paragraph CA-2.1.5(a) to (c) can only be so included if:
(a) they are issued by the investment firm licensee ;
(b) they are fully paid (only that portion of the shares for which payment has been received may be included);
(c) they:
(i) cannot be redeemed or can only be redeemed on a winding up of the investment firm licensee ; or
(ii) they are only redeemable at the option of the investment firm licensee and comply with any conditions applicable to joint stock companies in Bahrain;
(d) any coupon is non-cumulative, and can only be paid out of accumulated realised profits;
(e) they are able to absorb losses;
(f) they rank for repayment, upon winding up, no higher than a share of a company incorporated under the Joint Stock companies law of Bahrain; and
(g) the proceeds of the issue are immediately and fully available to the investment firm licensee .