The following basic own-fund items shall be deemed to possess the characteristics set out in Article 93(1)(b) of Directive 2009/138/EC, taking into consideration the features set out in Article 93(2) of that Directive, and shall be classified as Tier 3 where the following items display all of the features set out in Article 77:
((a))(a) the part excess of assets over liabilities, valued in accordance with Sections 1 and 2 of Chapter VI of Directive 2009/138/EC, comprising the following items:
((i))(i) subordinated mutual member accounts;
((ii))(ii) preference shares and the related share premium account;
((iii))(iii) an amount equal to the value of net deferred tax assets;
((b))(b) subordinated liabilities valued in accordance with Article 75 of Directive 2009/138/EC.