Bill No 7825 (the Bill), which aims, amongst other things, to amend the Act of 2 March 2004 on securitisation, as amended, was submitted to the Chambre des Députés on 21 May 2021.
The Bill clarifies the existing statutory framework for securitisations and, at the same time, adapts it in a flexible way to the requirements of the securitisation market.
In particular, the Bill:
- broadens the means by which a securitisation vehicle can be financed;
- allows securitisation vehicles to grant collateral in a more flexible framework and actively manage their assets within the limits set by the Securitisation Act; and
- provides clarification of the authorisation requirements for securitisation vehicles.
In addition, the Bill:
- increases the number of corporate forms a securitisation vehicle may take;
- provides certain clarification for multi-compartment securitisation vehicles issuing equity instruments; and
- provides for the registration of securitisation funds with the Trade and Companies Register.
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