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securitisation special purpose entity

  1. 121[Note: article 4(44) of the Banking Consolidation Directive (Definitions)]180
    1. (1) [deleted]209180132
    2. (2) (in MIPRU) a corporation, trust or other entity that has the following characteristics:132
      1. (a) it is organised for carrying on a securitisation or securitisations (within the meaning of paragraph (2) of the definition of securitisation);
      2. (b) its activities are limited to those appropriate to accomplishing such securitisation or securitisations; and
      3. (c) its structure is intended to isolate its obligations from those of the originator.
    3. 223(3) (in SECN) has the meaning in regulation 3(1) of the Securitisation Regulations 2024.
    [Note: article 4(44) of the Banking Consolidation Directive (Definitions)]180