(a) This paragraph applies where an entity referred to in Regulation 2(1) meets the combined buffer requirement when considered in addition to each of the requirements referred to in Regulation 129A(1)(a), (b) and (c) of the Capital Requirements Regulations, but fails to meet the combined buffer requirement when considered in addition to the requirements referred to in Regulations 80E and 80F, when calculated in accordance with Regulation 80B(2)(a).
(b) Where this paragraph applies, the resolution authority, where it is the resolution authority of the entity concerned, may, in accordance with paragraphs (2) and (3), prohibit an entity from distributing more than the Maximum Distributable Amount related to the minimum requirement for own funds and eligible liabilities (in this Regulation referred to as 'M-MDA'), calculated in accordance with paragraph (4), through any of the following actions:
(i) making a distribution in connection with Common Equity Tier 1 capital;
(ii) creating a
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