Banks Act, 1990 (Act No. 94 of 1990)

Regulations

Regulations relating to Banks

Chapter II : Financial, Risk-based and other related Returns and Instructions, Directives and Interpretations relating to the completion thereof

12. Revaluation surplus ranking as common equity tier 1 or additional tier 1 unimpaired reserve funds
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(1)A surplus resulting from a revaluation of assets shall rank as common equity tier 1 or additional tier 1 unimpaired reserve funds only to the extent permitted in terms of relevant provisions contained in regulation 38 of these Regulations or such directive as may be issued in writing by the Registrar from time to time.

 

(2)Subject to the provisions of subregulation (1), no surplus resulting from a contingency item shall rank as common equity tier 1 or additional tier 1 unimpaired reserve funds in terms of section 1(1) of the Act.