"common equity tier 1 capital"

means—

(a)	those shares that represent the most subordinated claim in liquidation, and which shares—

(i)	absorb the first and proportionately greatest share of any losses as the losses occur;

(ii)	absorb losses proportionately and pari passu on a going concern basis; and

(iii)

comply with such further criteria or conditions as may be prescribed;

(b)	such component of, percentage of or component and percentage of minority interest in specified issued instruments or shares, and arising from the consolidation of accounts and calculated in such a manner, as may be prescribed,

but does not include shares issued in pursuance of the capitalisation of reserves resulting from a revaluation of assets;

[Definition inserted by section 1(c) of Act No. 22 of 2013}