| (a) |
sections 35(2) and 36 of the Companies Act notwithstanding, issue shares of no par value or convert any of its shares into shares of no par value; |
[Section 79(1)(a) substituted by section 41(a) of Act No. 22 of 2013]
| (b) |
without the written approval of the Authority and in accordance with conditions determined by the Authority in writing— |
| (i) |
issue any preference shares, hybrid debt instruments or debt instruments; |
| (ii) |
convert any of its shares into preference shares, hybrid debt instruments or debt instruments; or |
| (iii) |
convert any of its preference shares of a particular class into preference shares of any other class, |
that will qualify as common equity tier 1 capital, additional tier 1 capital or tier 2 capital, as the case may be;
(Words following section 79(1)(b)(iii) substituted by section 41(b) of Act 22 of 2013)
| (c) |
issue negotiable certificates of deposit, promissory notes, or any such similar instrument, otherwise than in accordance with such conditions as may be prescribed; or |
| (d) |
section 101 of the Companies Act notwithstanding, issue share warrants to bearer within the meaning of that section. |
| (2) |
The aggregate amount representing the value of debt instruments and negotiable certificates of deposit and similar instruments issued by a bank in terms of paragraphs (b)(i) and (c), respectively, of subsection (1), shall at no time exceed an amount representing the prescribed percentage of the aggregate amount of the bank's liabilities in respect of deposits made with it and in respect of such debt instruments, negotiable certificates of deposit and similar instruments. |
| (3) |
Notwithstanding anything to the contrary contained in any contract or in the memorandum of association or articles of association of any bank or controlling company, there shall be no differentiation in the voting rights attached to any of the ordinary shares of a bank or a controlling company, and such voting rights shall be exercised in accordance with the determination thereof as provided in section 195(1) of the Companies Act. |
| (4) |
The provisions of subsection (1)(a), (b) and (d) shall mutatis mutandis apply to a controlling company. |
Medicines and Related Substances Act, 1965
