Cap. 484 Art. 20Rules.

(1) For the better carrying out of the provisions of this Act or of the provisions of any regulations relating to securitisation vehicles or securitisation transactions, the competent authority may, from time to time, issue and publish rules as may be necessary or appropriate in connection therewith. The rules shall be binding on securitisation vehicles and securitisation creditors and other persons as may be specified therein.

(2) In addition and without prejudice to the generality of the foregoing, the competent authority may issue rules as it shall deem fit for:

(a) the purpose of establishing conditions which need to be satisfied by a public securitisation vehicle in order to obtain a licence under this article;

(b) the regulation of the custody of assets and financial instruments of the public securitisation vehicle; and

(c) the purposes of requiring any periodical statements of the public securitisation vehicles.