§ 84 — Bail-in certificate

84.—(1) If the Minister approves a determination, the Minister must, as soon as practicable, issue a bail‑in certificate.(2) The bail-in certificate comes into effect on such date as the Minister appoints by notification in the Gazette.

(3) The bail-in certificate may make provision for one or more of the following:(a)

the cancellation of one or more eligible instruments;

(b)

the modification, conversion, or change in form of one or more eligible instruments;

(c)

that one or more eligible instruments is or are to have effect as if a right of modification, conversion or change of its or their form had been exercised under it or them;

(d)

where provision under paragraph (c) is made, the details of the modification, conversion or change of the form of the eligible instrument or instruments;

(e)

incidental, consequential and supplementary matters, including a requirement that the Division 6 FI or any other person must comply with a general or specific direction set out in the certificate.

(4) The bail-in certificate must include such information as may be prescribed by regulations made under section 135.

(5) The bail-in certificate may —(a)

make provision generally or only for specified purposes, cases or circumstances; and

(b)

make different provision for different purposes, cases or circumstances.

(6) The Minister may, at any time before the appointed date, add to, vary or revoke any matter specified in the bail-in certificate.

(7) On or before the appointed date, the Authority must cause the bail-in certificate and every addition, variation or revocation mentioned in subsection (6) to be — (a)

served on the Division 6 FI; and

(b)

published in the Gazette and in such newspaper or newspapers as the Minister may determine.

—(1) If the Minister approves a determination, the Minister must, as soon as practicable, issue a bail‑in certificate.

(2) The bail-in certificate comes into effect on such date as the Minister appoints by notification in the Gazette.

(3) The bail-in certificate may make provision for one or more of the following:(a)

the cancellation of one or more eligible instruments;

(b)

the modification, conversion, or change in form of one or more eligible instruments;

(c)

that one or more eligible instruments is or are to have effect as if a right of modification, conversion or change of its or their form had been exercised under it or them;

(d)

where provision under paragraph (c) is made, the details of the modification, conversion or change of the form of the eligible instrument or instruments;

(e)

incidental, consequential and supplementary matters, including a requirement that the Division 6 FI or any other person must comply with a general or specific direction set out in the certificate.

(4) The bail-in certificate must include such information as may be prescribed by regulations made under section 135.

(5) The bail-in certificate may —(a)

make provision generally or only for specified purposes, cases or circumstances; and

(b)

make different provision for different purposes, cases or circumstances.

(6) The Minister may, at any time before the appointed date, add to, vary or revoke any matter specified in the bail-in certificate.

(7) On or before the appointed date, the Authority must cause the bail-in certificate and every addition, variation or revocation mentioned in subsection (6) to be — (a)

served on the Division 6 FI; and

(b)

published in the Gazette and in such newspaper or newspapers as the Minister may determine.