S.L. 330.9 Art. 54Removal of procedural impediments to bail-in.

(1) Without prejudice to regulation 63(1)(i), institutions and entities referred to in paragraphs (b), (c) or (d) of the definition

"entity" in regulation 2(1) shall, where applicable, be required to maintain at all times a sufficient amount of authorised share capital or of other Common Equity Tier 1 instruments, so that, in the event that the Resolution Committee exercises the powers referred to in regulation 63(1)(e) and (f) in relation to an institution or an entity referred to in paragraphs (b), (c) or (d) of the definition "entity" in regulation 2(1) or any of its subsidiaries, the institution or entity referred to in paragraphs (b), (c) or (d) of the definition "entity" in regulation 2(1) is not prevented from issuing sufficient new shares or other instruments of ownership to ensure that the conversion of liabilities into shares or other instruments of ownership could be carried out effectively.

(2) The Resolution Committee shall assess whether it is appropriate to impose the requirement laid down in sub-regulation

(1) in the case of a particular institution or entity referred to in paragraphs (b), (c) or (d) of the definition "entity" in regulation 2(1) in the context of the development and maintenance of the resolution plan for that institution or group, having regard, in particular, to the resolution actions contemplated in that plan. If the resolution plan provides for the possible application of the bail-in tool, the Resolution Committee shall verify that the authorised share capital or other Common Equity Tier 1 instruments is sufficient to cover the sum of the amounts referred to in regulation 47(3)(b) and (c).

(3) Notwithstanding anything contained in any other law, there shall be no procedural impediments to the conversion of liabilities to shares or other instruments of ownership existing by virtue of their instruments of incorporation or statutes, including pre-emption rights for shareholders or requirements for the consent of shareholders to an increase in capital.

(4) This regulation is without prejudice to the amendments to Directives 82/891/EEC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU and Directive 2012/30/EU set out in Title X of the BRRD.