(15)A detailed and comprehensive process is deemed necessary for competent authorities to grant a supervisory permission for reducing own funds. Redemptions, reductions and repurchases of own funds instruments should not be announced to holders before the institution has obtained the prior approval of the relevant competent authority. Institutions should provide a detailed list of elements in order for the competent authority to be provided with all relevant information before deciding on granting its approval.
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New version applies from 07/07/2015 — introduced by Commission Delegated Regulation (EU) 2015/923.
47 provisions change.
Later versions: 23/12/2020, 09/05/2023.
Recital 15 changes in this version: compare with the current text.