Cap. 484 Art. 17Private International Law rules.

(1) Parties to a securitisation transaction shall be free to choose any law to govern contracts relating to or ancillary to a securitisation transaction.

(2) The Minister, acting on the advice of the competent authority, may make rules on the law applicable to matters relating or ancillary to securitisation transactions, where the law of a country, other than Malta, may be applicable including, without limitation:

(a) rules on the proper law of any contract;

(b) formal and material validity of any contract;

(c) rights of third parties upon the completion of any contract;

(d) proprietory issues relating to securitisation transactions; and

(e) the priorities of rights of third parties.