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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