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SECN 12.1 Application

SECN 12.1.1G

1This chapter applies to originators, sponsors and SSPEs which are not PRA-authorised persons and which are established in the United Kingdom.

SECN 12.1.2R

The requirements specified in SECN 12.2, SECN 12.3 and SECN 12.6 apply to all securitisations.

SECN 12.1.3R

The requirements specified in SECN 12.4 and SECN 12.5 apply to securitisations for which section 85 of the Act (Contravention of prohibition relating to public offer of securities) and rules made by the FCA for the purposes of Part 6 of the Act require a prospectus to be drawn up.

SECN 12.1.4G

In the SECN 12 Annexes, any references to Regulation (EU) 2017/2402 and related technical standards and to specific Articles therein shall be read as referencing the PRA rules or SECN replacing the relevant provision.