(1) Despite Regulation 108, basic own-fund items shall be included in Tier 1 basic own funds for up to 10 years after 1 January 2016, provided that those items -
(a) were issued before 18 January 2015,
(b) on 31 December 2015 could be used to meet the available solvency margin up to 50% of the solvency margin according to the laws and administrative provisions which are adopted pursuant to Article 16(3) of Directive 73/239/EEC, Article 1 of Directive 2002/13/EC, Article 27(3) of Directive 2002/83/EC and Article 36(3) of Directive 2005/68/EC, and
(c) would not otherwise be classified in Tier 1 or Tier 2 in accordance with Regulation 108.
(2) Despite Regulation 108, basic own-fund items shall be included in Tier 2 basic own funds for up to 10 years after 1 January 2016, provided that those items -
(a) were issued before 18 January 2015, and
(b) on 31 December 2015 could be used to meet the available solvency margin up to 25% of the solvency margin according to the laws and administrative
…