SECN 1.1 Application

1. (1)

   1The rules, guidance and directions in this sourcebook apply to:

   1. (a)

      sponsors;

   2. (b)

      originators;

   3. (c)

      original lenders;

   4. (d)

      SSPEs;

   5. (e)

      body corporates applying to be registered as securitisation repositories;

   6. (f)

      securitisation repositories;

   7. (g)

      trade repositories;

   8. (h)

      sellers of securitisation positions;

   9. (i)

      persons applying to be registered as third party verifiers;

   10. (j)

       institutional investors; and

   11. (k)

       retail clients.

2. (2)

   Each chapter of SECN has its own application provision which provides further details about who the requirements apply to.

1GEN does not apply in respect of the rules and guidance in SECN, except as provided for in SECN 1.1.3R and SECN 1.1.4G.

1. (1)

   1GEN applies in its entirety to rules in SECN 4 applying to sponsors and institutional investors who are authorised persons, as these rules were made under the general rule-making powers.

2. (2)

   GEN also applies in its entirety to rules in SECN 7 applying to institutional investors who are authorised persons, as these rules were made under the general rule-making powers.