Section 6B(9)

Where Case 3 in section 6A applies, the principal amount of a relevant capital instrument issued by the bank must not be reduced under this section to a greater extent, or converted on worse terms, than equally ranked capital instruments at the level of any parent undertaking of the bank which are reduced, or converted pursuant to this section as it applies in relation to a banking group company by virtue of section 81AA, or in the course of applying the bail-in option provided for by section 12A or section 81BA.

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Source: legislation.gov.uk · retrieved 2026-09-04