(NAR) VOL. 22 NO. 2, APRIL - JUNE 2011
“Section 1. Effective 1 January 2011, capital instruments issued by banks/ quasi-banks should comply with the following minimum conditions in order to be eligible as Hybrid Tier 1 or Lower Tier 2 capital, as applicable:
“1.X X X
“2.For Lower Tier 2 capital:“X X X
“k) The bank/quasi-bank must submit a written external legal opinion that the abovementioned requirements, including the subordination features, have been met:
“X X X
“Section 2. X X X”